Is anyone else experiencing issues with their Federal and State tax calculations in the online version of Turbotax Deluxe?

[mewzet]

My overview is showing I have $60 million in total deductions, which is grossly incorrect.

[Vanessa A · Accepted solution]

You will need to go back and double check your answers.  It is likely that you entered a decimal point in the wrong place, or have some type of entry error.  Please walk through ALL of your deductions that you entered until you find the one that is causing the error. 

[mewzet]

My Schedule 1, line 18 show an entry for Penalty on early withdrawal of savings.  Where in the TurboTax application is that information entered?  I can't seem to find that category, and I did not make an entry for the amount showing on Schedule 1, line 18.

[DaveF1006]

This is usually reported on a 1099 INT in Box 2. If you entered a 1099 INT, see if there was an amount shown in Box 2 of your hardcopy and your Turbo tax program.

[mewzet]

Thank you!  I went through all the 1099INT documents and found the error.  I uploaded a 1099INT and had TurboTax auto-populate the information.  Apparently, it picked up the account number as a Penalty for early withdrawal of savings. LOL!  Oops!  It's best to check, check and double-check.