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My tax liability is calculated wrong on turbotax. It keeps saying I owe federal taxes, but when I do the math, the tax liability I get matches on my w2 form.

 
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3 Replies

My tax liability is calculated wrong on turbotax. It keeps saying I owe federal taxes, but when I do the math, the tax liability I get matches on my w2 form.

The tax liability is based on your taxable income after subtracting either the Standard Deduction or Itemized deduction from your gross income.  Taxes owed means your total tax liability is greater then your total tax payments and credits.

Look at your tax return, Form 1040, for tax liability, tax payments and credits.

 

You can view your Form 1040 at any time using the online editions. Click on Tax Tools on the left side of the screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

 

 

My tax liability is calculated wrong on turbotax. It keeps saying I owe federal taxes, but when I do the math, the tax liability I get matches on my w2 form.

it's possible but unlikely. you are the first and only one to report this as an issue. your taxes are not based on your w-2 line 1 but on your taxable income form 1040 line 15. then there can be additional taxes and/ or credits. on lines 16 to 31. since we can't see your 1040 if you are unsure you'll have to talk to support who you can allow to see your return

 

Contact Customer Service
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https://support.turbotax.intuit.com/contact

800-446-8848

 

 

My tax liability is calculated wrong on turbotax. It keeps saying I owe federal taxes, but when I do the math, the tax liability I get matches on my w2 form.

What do you mean it matches your W2?  The tax liability is not on your W2.   Did you mean it doesn't match your 1040 return?  What lines don't match?   You will owe tax if you didn't have enough withholding taken out on your W2 box 2 to cover the total tax  (line 24) on your taxable income (line 15).  Maybe you owe tax for something else too?  What lines on your 1040 don't you understand?  

 

And the tax on line 16 can be calculated like 7 different ways and not just from the tax table.  Depends on what kind of income you have.  

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