Solved: One if my w2's the federal income tax withheld is 1022.82, after I put that w2 in it said I had 1023 on my tax return so far, but how does that make sense?
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One if my w2's the federal income tax withheld is 1022.82, after I put that w2 in it said I had 1023 on my tax return so far, but how does that make sense?

 
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Level 15
Level 15

One if my w2's the federal income tax withheld is 1022.82, after I put that w2 in it said I had 1023 on my tax return so far, but how does that make sense?

The "refund monitor" is not meaningful until you have entered all of your information. With only one W-2 entered your income might appear low enough that you wouldn't owe any tax, so you would get back all the tax that was withheld. See what happens after you enter the rest of your W-2s.

If you're asking about the rounding, everything on a tax return is rounded to whole dollars. The $1,022.82 tax withheld becomes $1,023.

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Level 15
Level 15

One if my w2's the federal income tax withheld is 1022.82, after I put that w2 in it said I had 1023 on my tax return so far, but how does that make sense?

The "refund monitor" is not meaningful until you have entered all of your information. With only one W-2 entered your income might appear low enough that you wouldn't owe any tax, so you would get back all the tax that was withheld. See what happens after you enter the rest of your W-2s.

If you're asking about the rounding, everything on a tax return is rounded to whole dollars. The $1,022.82 tax withheld becomes $1,023.

View solution in original post

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