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Level 2
posted Apr 5, 2025 10:03:46 AM

The Tax Due is not correct. Can someone double check?

How come my Tax Due is 2408? Is there a bug in calculation? I also attached the screenshot from Form 1040. 
7731 - 5407 = 2324

0 3 232
3 Replies
Level 8
Apr 5, 2025 10:18:28 AM

do you have a penalty on line 38, that's added into line 37 calc even tho the comment says it's line 33 subtracted from line 24

Level 15
Apr 5, 2025 10:22:59 AM

Yes probably the penalty on line 38.  That is added to line 37.  You get a penalty if you owe more than $1,000 and other reasons.  

 

If you get a penalty on 1040 line 38, you might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.


How to add form 2210 for Underpayment Penalty
https://ttlc.intuit.com/community/tax-payments/help/how-do-i-add-form-2210/00/25703

 

It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

 

Level 2
Apr 5, 2025 11:16:57 AM

Thanks. I do have a penalty. Thanks for pointing that out.