I'm filing out my state taxes. After going through the process, I ended up on this page (see image). However, the $1503 here does not match the amount I have in Box 17 on my W-2; which is $1660.82. Does this mean I either entered something incorrectly somewhere on the form, or omitted something I should have included?
I do contribute to a 401(k) and have codes AA and DD in Box 12, but I did not manually enter any of that information anywhere on TurboTax. From the way I read each page, it was my understanding I didn't have to.
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The $1,503 figure represents your New Jersey income tax, not the New Jersey tax you had withheld from your pay (box 17 on your W-2 form). When you complete your tax return, your tax is based on your income and deductions, whereas the tax withheld from your pay is simply an estimate based on your income. Your tax withheld is netted with your tax to determine your refund or tax due.
Thanks for the comment. So essentially you’re saying the number I’m seeing on the image I initially posted is accurate and I didn’t make a mistake somewhere?
That is correct. That was your NJ tax liability for the year and the $1661 was the amount that was withheld.
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