I have TurboTax Deluxe 2021. On form 1040, line 1 the number TurboTax has is higher than my W2 box 1 by more than $200. I checked last years, 2020, and they match. Why is it doing this? I looked and the W2 data in TurboTax and it matches the W2 but when it gets to the 1040 it's a different number. Please advise.
Is there a code to the left of Line 1, such as SCH with a number?
If you are using the desktop editions, click on Forms. When in Forms mode open the 1040/1040SR Wks on the left side of the screen. Click on the amount in Line 1. Click on the Magnifying Glass. Open each W-2 shown in the window and check the amount shown in box 1 of each W-2.
Yes, this is exactly what I have done in trying to figure it out myself. I only have 1 W2 and the number in box 1 does not match what TurboTax has placed on 1040, line 1.
@ctrough57 wrote:
Yes, this is exactly what I have done in trying to figure it out myself. I only have 1 W2 and the number in box 1 does not match what TurboTax has placed on 1040, line 1.
That is strange. Delete the W-2. Then check the Form 1040 again to see if there is an amount entered. If not then re-enter the W-2 manually. If there is an amount after deleting the W-2 you should be able to find the source of the amount by clicking on the magnifying glass on Line 1 of the Form 1040.
Yes, I did delete the W2 and then manually enter it back in. Still have same issue. I have traced the number through using magnifying glass and was unable to find it.
However, I just got off phone with TurboTax. They had me click on Wages, etc. Wks and I was able to find where the discrepant number came from. It is legit. Sorry for all the trouble but thank you for working to help.
@Melinda13 wrote:
what if it does have an SCH listed next to it?
That just means you had taxable scholarship reported for your education. The SCH means scholarship and the number to the right is the amount of the taxable scholarship and is added to the amount on Line 1 of the federal tax return.
See this TurboTax support FAQ - https://ttlc.intuit.com/community/college-and-education/help/why-is-my-scholarship-taxable/00/26267