I logged out today and logged back in. My taxes owed went up $1000. I made no changes. Why is that?
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The amount TurboTax shows as owing may not have included the impact of your last entries prior to logging off, but included them after you logged back in; this may depend on your internet speed.
Taxes are often calculated using a different method than the tax tables. For example, if you have capital gains, the tax on those is calculated at the capital gain rate for your income level. If you are self-employed, you may have self-employment taxes in addition to income taxes.
You can still preview your return in TurboTax Online at any time before filing to find out how your taxes were calculated. See here for details. You can also view the Tax Summary under Tools on the left-side menu in TurboTax Online.
The amount TurboTax shows as owing may not have included the impact of your last entries prior to logging off, but included them after you logged back in; this may depend on your internet speed.
Taxes are often calculated using a different method than the tax tables. For example, if you have capital gains, the tax on those is calculated at the capital gain rate for your income level. If you are self-employed, you may have self-employment taxes in addition to income taxes.
You can still preview your return in TurboTax Online at any time before filing to find out how your taxes were calculated. See here for details. You can also view the Tax Summary under Tools on the left-side menu in TurboTax Online.
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