Tax Summary Display Seems Wrong

Forum|Forum|2 years ago
January 27, 2024
2 replies
13 views

When I look at the Tax Summary graphs....

The "Taxable Income" amount displayed is actually the "Tax" amount.

The "Refund/Taxes Owed" amount is actually the "Effective Tax Rate %"

Is it just me or is there a problem in the software?

BillM223

Level 15

First, are any numbers on a tax FORM wrong?

Second, are you using the TurboTax Online product or the desktop product?

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TP43Author

Level 2

Hi,

I looked back several years and the information is correct.

On this current year, I also looked at the Form called Tax History. Current year and previous years information is all correct.

For some reason, that chart in the Tax History is displaying the wrong fields.

-Thanks.

AmyC

Level 15

When something changes in the program, it can affect other forms. We are doing lots of updates as forms are being released right now. As long as the form itself is correct, I wouldn't worry yet about the summary graph since it pulls in so much information.

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MooHaj

Level 2

I believe it is a software error:

Using Turbotax Home & Business 2023. Have similar concern. The Tools>Tax History displays form 1040> line 16 instead in "Taxable Income" portion, but it should be from line 15; and it displays Line 33 minus line 23 in "Tax" section.