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Why did my tax go so low after adding another w2

Why is my taxes 85$ out of 30,000$
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2 Replies

Why did my tax go so low after adding another w2

JohnB5677
Expert Alumni

Why did my tax go so low after adding another w2

I'm not quite sure, Please clarify your question.

  • The first step would be to go back to the entry screen for that W-2 and confirm that you posted the income and withholdings correctly.
  • If that is correct you can check to see if you got any additional credits.
  • You can check your tax return Form 1040 by following these steps.

TurboTax does not provide the 1095-A.  It is issued by the marketplace to show you had insurance and to evaluate the discount you may have received.

 

  • Did you have a marketplace health insurance plan?
  • "If you have not received your Form 1095-A or you received an incorrect 1095-A, you should contact the Marketplace from which you received coverage."
  • "If you receive a corrected or voided Form 1095-A, you may need to amend your return. For more information on what you need to do with a corrected or voided Form 1095-A, see Corrected, Incorrect or Voided Forms 1095-A. This information can help you assess whether you should file an amended tax return."
  • Please see Health Insurance Marketplace Statements 

 

You can preview your tax return by going to:

 

  1. On the menu bar on the left that shows.
    1. My Info
    2. Federal
    3. State
    4. Review
    5. File
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. On the popup menu
  5. Select View Tax Summary
  6. On the left sidebar
  7. Select Preview my 1040.
  8. Schedules 1,2&3 are included if you scroll down past your 1040.
  9. To return to the entry screens press Back on the sidebar.

Some key numbers on your 1040 tax return are:

Line 15 - Taxable Income

Line 24 - Total Tax.

Line 25 d - Withholdings.

Line 33 - Payments including Credits.

Line 34 - Overpayments.

Line 37 - Tax owed.

 

If I've misunderstood your question, and this does not completely answer it, please contact us again and provide some additional details.

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