I generated the tax forms after completing all the information with no error during "smart check". In form 1040, line 23 have an amount of "$2831" entered. This same amount was reflected in "Additional Taxes - Schedule 2, line 10". However, in schedule 2, only line 8 is filled with "$2831" and indicate taxes from "Form 8959" and "Form 8960" checked.
In form 8959, the total additional medicare tax withholding on line 24 is $1093 which is also entered on line 25c of form 1040.
In form 8960, part III, line 17 only reflects $388 as "Net investment income tax for individuals".
So, with these only two forms included in Schedule 2 and the amounts doesn't tally up to $2831, I am not able to move forward with filing since it would result me in overpaying $2831 to IRS.
I looked into all other worksheets and forms that Turbotax generated right before I file and I couldn't come up with any answer that explains these numbers at all.
Appreciate if any guidance can be provided on how Turbotax came up with this bizzare $2831 in first place along with right references linked to these in schedule 2 line 8.
Thanks
you don't understand form 8959.
8959 line 18 is the additional medicare tax you owe (probably $2443). this flows to schedule 2 line 8 and thus increases the taxes you owe. *($2443 + $388 from form 8960 = $2831 that's showing up on schedule 2 line 😎
8959 line 24 is the actual additional medicare tax withheld. this flows to 1040 line 25c and thus decreases the taxes you owe