I am adding our schedule H to turbotax since we employed nanny, TT saying we owe $5473 but our payroll already calculated and paid $2735. Why is there error in calc?

[user1221]

We paid our nanny ~17700 this year and our payroll estimated our tax payments to be at $2735 for the year which we already paid. When I add the schedule H to turbotax it is saying our taxes owed are $5473. I can add what we already paid to the estimated payments, but that has us overpaying by $2735.

[AmyC]

The word tax is too broad, let's narrow this down. You should have already paid FUTA and maybe SUTA tax each quarter. Then, you have Medicare and Social Security tax on the wages which would be around $2735 for pay in the area presented. Then you entered the payments you have already made of $2735 into the estimated tax payments on federal. These do not go on sch H anywhere, only the FUTA goes on there.

It sounds like you have $2735 in there twice somehow. Go back and check your sch H, your estimated payments, and so on until you discover the duplication and can remove the extra.

[user1221]

Thanks for answering! Do you know how I can see the schedule H that TurboTax has populated? I checked all the areas and don’t see any mistakes. My schedule H that was provided by my payroll company is correct so I think there must be an error on how TurboTax is entering it

[ThomasM125]

You can see the schedule H when you pay for your TurboTax program. You can do that before you file the return, just go through the file routine steps but stop short of filing your return. You will have the option to print out your return before you submit it. 

The $2,735 you paid in sounds close to the correct amount for the FICA/Med tax. I suspect based on the amount of payroll that there should have been federal income tax withheld as well, and that may be why you said you owe $5,473 when you complete the schedule H. If you haven't paid that in yet, it would be due with your tax return.