517942
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes - One Big Beautiful Bill on Aug 6! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

lhill2110
New Member

Why does turbo tax already say I owe money when I haven't entered any data yet?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

Why does turbo tax already say I owe money when I haven't entered any data yet?

Did you have an HSA last year?  Turbotax creates a bogus penalty based on the last month rule and some incorrect data transfers.  It will go away when you enter your real 2017 information.  If you have Turbotax installed on your own computer, you can switch to forms mode and track down the source of the number yourself.  

View solution in original post

1 Reply

Why does turbo tax already say I owe money when I haven't entered any data yet?

Did you have an HSA last year?  Turbotax creates a bogus penalty based on the last month rule and some incorrect data transfers.  It will go away when you enter your real 2017 information.  If you have Turbotax installed on your own computer, you can switch to forms mode and track down the source of the number yourself.  

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question