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No, but you can turn off the refund meter and ignore it - it won't be accurate until you are done entering everything. Changing the order of how you enter things will change how the meter responds, but probably still not what you are looking for.
TurboTax is going to add anything in Box 10 of your W-2s to taxable income as soon as you enter it. Even if you don't qualify for the Dependent Care credit, you still have to enter the care provider and amounts to each for Box 10 in the Deductions and Credits section in order to get TurboTax to remove those amounts from taxable income. And that is just one of many calculations going on behind the scenes.
@fanfare when you get to the "Deductions and Credits" section. I didn't use this as an example, because it doesn't apply to me, but even assuming the standard deduction from the start is a counter-intuitive thing to do. If you itemize deductions and you know that the total deductions is about $50K for a married couple....then completing the itemized section doesn't result on a deduction of $50K, but on an additional deduction of $25K.
I'm able to share your suggestion with TurboTax Developers via TurboTax Moderators. But for tax year 2022, things won't change. I realize that the "Refund Meter" kinda jerks you around throughout the process, but that's why it's essential to pay no attention to the Meter until all of your information has been entered.
I'm happy to share this with Moderators. Thanks for your input!
No, but you can turn off the refund meter and ignore it - it won't be accurate until you are done entering everything. Changing the order of how you enter things will change how the meter responds, but probably still not what you are looking for.
TurboTax is going to add anything in Box 10 of your W-2s to taxable income as soon as you enter it. Even if you don't qualify for the Dependent Care credit, you still have to enter the care provider and amounts to each for Box 10 in the Deductions and Credits section in order to get TurboTax to remove those amounts from taxable income. And that is just one of many calculations going on behind the scenes.
Thank you @Kat and @DawnC . So the answer is no, **bleep**.
I understand that what matters is that the final numbers calculated by TT are correct. But I do find it a little confusing/irritating that the intermediate number ("refund meter") after adding my W2 does not match a simple spreadsheet calculation I keep on the side, to corroborate my understanding of how much I'm supposed to owe/get back out of just my salary. Yep, I can ignore the refund meter, but then (a) what's the point of having it (b) I may not be understanding how taxes on wages work, because there is no simple way for me to double-check on my spreadsheet estimates
@buzondemario Let's just say that you (having a spreadsheet on the side) are among the more prepared folks I know! Good for you. The Refund Meter is one of the highlights of the program for many taxpayers, though I will agree with you that it can be frustrating. To see a refund at one point in the program fall to federal taxes owed nearer the end of the interview can be exasperating. It's just the way the program works. The final numbers are what counts, of course. I'm sincerely sorry that it frustrates you. Best of luck finishing your filing!
We have even heard from a few users who use the low tech trick of putting a post it note on their screens to cover up the "refund monitor" until they want to see what it is showing......
@fanfare when you get to the "Deductions and Credits" section. I didn't use this as an example, because it doesn't apply to me, but even assuming the standard deduction from the start is a counter-intuitive thing to do. If you itemize deductions and you know that the total deductions is about $50K for a married couple....then completing the itemized section doesn't result on a deduction of $50K, but on an additional deduction of $25K.
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