I noticed a discrepancy on the explainWhy page for my Federal return that could mean the difference between owing tax and getting a refund, and I'm not sure I understand what is happening.
When I click on "Why do I owe $N?", the text on the page states "The $N you owe comes from the $Y of total tax on your return, minus the $Z of tax you already paid and the $772 in credits you qualify for so far."
However in the table breakdown, it shows my total tax liability is not $X but ($X - $3000). If my tax liability is indeed $X - $3000 instead of just $X, I would receive a refund rather than owing tax. I'm not sure why TurboTax is indicating two different amounts for my total tax liability on the same page.
Anyone else experience this or know what's happening here?
You'll need to sign in or create an account to connect with an expert.
If you are looking at different explanation screens rather than the tax return, this may account for the confusion. For example, some screens show you the total refund for Federal and State together, and others show the refunds separately.
The Federal and State tax agencies issue refunds separately and your TurboTax fees are taken from the Federal refund if you elected to pay them by refund. In addition, the bank (Santa Barbara Tax Products Group, or SBTPG) may charge an additional fee for handling the payment by refund. The fee is mentioned on the screen where you elect to pay by refund. See this help article for more information.
You can view your entire return or just your 1040 form before you e-file to see how your taxes were calculated and to preview the forms that TurboTax has prepared from your entries. In TurboTax Online:
Thanks for your reply.
I was not looking at different explanation screens. I was looking at one page in Turbo Tax that showed two different figures for my tax liability and total tax, not the size of my tax refund or tax owed.
It seems the answer is to look at my raw tax documents and try to figure it out myself.
Thanks,
Adam
I'm having the same problem. Did you end up finding the answer?
We'd love to help you complete your tax return, but need more information. Can you please clarify your question?
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
bananabread1301
New Member
Kaoru1
New Member
killeenlewis
New Member
koko0612
Level 2
jwhite6559
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.