On the "explain why" page, it lists my tax liability as about $1000 less than my total taxes paid. Then, it lists my refund as -$260. How can this be?

[jdg905]

The "explain why" page has "Your Tax Breakdown" which shows how TurboTax determines your tax liability and "Your Tax Payments and Credits," which shows how TurboTax comes up with how much tax is owed. Then, it states this about refund (or tax due): "This is calculated by taking your total taxes paid and subtracting your tax liability."  However, when I look at those fields, my total taxes paid is about $1000 more than tax liability but refund is -$260. What am I missing?

[ThomasM125]

I can't answer your question regarding the worksheet you mention. However, you can look at your form 1040 and see your taxes paid in and tax amount and see why you owe money or are getting a refund. Line 24 of your Form 1040 lists your total tax. Line 33 lists your total payments and refundable credits. Your refund or balance due will be shown on line 34 or 35(a).

You can view your form 1040 and schedules 1 to 3 while working in the online version of TurboTax by following these steps:

1. Click on Tax Tools in the left menu bar
2. Click on Tools
3. Look under Other Helpful links….
4. Choose View Tax Summary
5. Look in the left menu bar and choose Preview my 1040
6. Scroll down the page to see form 1040 and schedules 1 to 3

[jdg905]

Thank you. This helped me get to root of it. TurboTax does not show line 23 of Form 1040 ("Other taxes, including self-employment tax, from Schedule 2, line 21") when it does breakdown on the "explain why" page. This is a bit confusing and probably something they should fix.