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aleon314
Returning Member

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

I was charged a total of $1,739 in my bank account ending in 0428 and now I’m negative -1,400
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14 Replies

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

What does your Form 1040 Line 37 show for the amount of federal taxes owed?

 

To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/

Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show.  Click on the Year and Click on Download/print return (PDF)

 

The IRS also may have changed your amount owed because they made changes to your tax return. This may include corrections to any incorrect Recovery Rebate Credit amount. You’ll get a notice explaining the changes.

aleon314
Returning Member

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

It saying to subtract line 33 with line 24 which is $5,096-4,838 which gives me $258

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something


@aleon314 wrote:

It saying to subtract line 33 with line 24 which is $5,096-4,838 which gives me $258


So $258 is reported on your Form 1040 Line 37 for federal taxes owed.

Did you also file a state tax return and does it have state taxes owed?

aleon314
Returning Member

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

What’s coming up on my tax return 1040 it’s showing an amount of 53,540 as my wages but on my w2 it states a total of 26,770.73 and I’m sure I put the correct amount when I was filing. 

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something


@aleon314 wrote:

What’s coming up on my tax return 1040 it’s showing an amount of 53,540 as my wages but on my w2 it states a total of 26,770.73 and I’m sure I put the correct amount when I was filing. 


That indicates the W-2 was entered twice.  Did you import the W-2 and then entered the same W-2 manually?

If your tax return is incorrect you will need to file an amended tax return with only the one W-2.  Any taxes owed that were over-paid would be refunded on the amended tax return.

 

What is the payee name on your bank account for the $1,758?

aleon314
Returning Member

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

Yes that probably what happened that it got entered twice and I didn’t notice. But how do

i just file just one w2 so I won’t do the same mistake again? 

And the payee name is NYS DTF PIT tax payment 

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something


@aleon314 wrote:

Yes that probably what happened that it got entered twice and I didn’t notice. But how do

i just file just one w2 so I won’t do the same mistake again? 

And the payee name is NYS DTF PIT tax payment 


That payee is the state of New York.  It is not the IRS.

Look at your New York state tax return.  Do you owe New York state taxes and requested a direct debit from your bank account?  

aleon314
Returning Member

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

I did set up for them to take out what I owe from my debit card but it only said $258 is what I owed. 

how can I just take off one of the w2s ?

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something


@aleon314 wrote:

I did set up for them to take out what I owe from my debit card but it only said $258 is what I owed. 

how can I just take off one of the w2s ?


Now I am confused.  You said on your Federal Tax Return Form 1040 Line 37 there is an amount of $258 that you owe.  Correct?

However, you said the Payee on the bank account that debited your account for $1,739 was NYS DTF PIT.  That is a debit from the state of New York.  It is not a debit from the IRS for the Federal tax return amount owed of $258.

Your issue is with New York State and not the IRS.  How much did you owe on the New York state tax return, not the Federal tax return?

aleon314
Returning Member

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

 

This is what it’s showing me and I think it’s due to the 2 w2s I put in by mistake

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

@aleon314 This is a public forum so you need to remove the screenshots you posted.  Click on the 3 dots in the upper right of the message with the screenshots and click Edit Reply then delete the screenshots.

 

I only see one W-2 entered on the IT-2 you posted.  What I see is a $4,153 for a tax liability and $2,414 for tax payments leaving an amount of $1,739 for New York State taxes owed.

 

If this is not correct then you will have to amend the New York state tax return.

See this TurboTax support FAQ for amending a state return - https://ttlc.intuit.com/community/amending/help/i-need-to-amend-my-state-return/01/26510

aleon314
Returning Member

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

BCC85284-F97E-45C8-8558-BD647F347A07.png

This is where the mistake came from

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something


@aleon314 wrote:

 

This is where the mistake came from


Yep...That's it.  A double entry for the exact same W-2.  You will have to amend the New York state tax return.

aleon314
Returning Member

Hello I would like to know why I owe $1400 when I was told I would only have to owe $200 something

How do I amend the New York State tax return 

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