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tammy123
New Member

Taxes owed

How come I owe fed taxes right after I downloaded the 2020 Tax software and transferred last years info into it? I have not entered any other info. How come this would be? I also did an amended return in 2019. Which tax file do I transfer into 2020 Turbotax? I am assuming the 1040X?

2 Replies
VolvoGirl
Level 15

Taxes owed

Do you owe for the first time homebuyers Credit?  That's the only thing I can think of right away.  Yes you should transfer from 1040X file.

NCperson
Level 15

Taxes owed

or are you seeing a $1200 REFUND, which is the stimulus credit that will appear in the meter until you answer the questions in the last interview section 

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