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johnjune2015
New Member

I'm using the standard deduction which is $6350, federal income tax withheld on my W-2 is $5700. The difference between those two sums is $650. Why do I owe $745?

 
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SweetieJean
Level 15

I'm using the standard deduction which is $6350, federal income tax withheld on my W-2 is $5700. The difference between those two sums is $650. Why do I owe $745?

You cannot compare the two. The Standard deduction is a subtraction from your gross income, before the taxes are calculated. 

Once the taxes are calculated, TT gives you credit against them for the amount withheld.

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1 Reply
SweetieJean
Level 15

I'm using the standard deduction which is $6350, federal income tax withheld on my W-2 is $5700. The difference between those two sums is $650. Why do I owe $745?

You cannot compare the two. The Standard deduction is a subtraction from your gross income, before the taxes are calculated. 

Once the taxes are calculated, TT gives you credit against them for the amount withheld.

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