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I put 0 on my tax forms. I talked to HR at work and they said I have enough federal taxes taken out this year to not have to owe. So why is it saying I owe over $2000?

 
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2 Replies

I put 0 on my tax forms. I talked to HR at work and they said I have enough federal taxes taken out this year to not have to owe. So why is it saying I owe over $2000?

Putting a zero on your W-4 is the way to go. Did you have any other income?  Look at your actual 1040 and supporting schedules and see where this balance due originated.

 

  1. View only your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.
SharonD007
Expert Alumni

I put 0 on my tax forms. I talked to HR at work and they said I have enough federal taxes taken out this year to not have to owe. So why is it saying I owe over $2000?

There are a variety of reasons why you may owe taxes. Some of the most common are having additional income, having less deductions, having fewer credits or a change in your filing status. Please see the TurboTax Help article Why do I owe taxes? for further explanation. You can also take a look at the TurboTax Help article Why did my refund go down compared to last year's?

 

Also, the rules for child related tax credits changed this year if you are claiming dependents which may be one of the reasons why you owe. The amount of the Child Tax Credit (CTC) decreased from $3,600 or $3,000 maximum amount to $2,000, and the maximum additional child tax credit is $1500. Please see the TurboTax article What is the Child Tax Credit?   The Earned Income Credit went back to the old rules. Taxpayers under 25 and over 65 are not eligible if they do not claim children on their tax returns. Please review the TurboTax Help article What are the qualifications for the Earned Income Credit?

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