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Why is my income tax payments on the "your tax breaks page" higher than the total of the federal tax withheld that I entered from several statements?
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Why is my income tax payments on the "your tax breaks page" higher than the total of the federal tax withheld that I entered from several statements?
The "income taxes paid" number summarizes ALL of the taxes you have paid either directly or through withholdings on Forms such as W2s, 1099s, etc for both your federal and state returns. For example, that number would include both of your Federal and state withholdings from your W2s. It can also include local taxes, refunds applied to this year's taxes from a prior year, balances due from prior years that were paid in this year, and payments made with any extension you might file.
While it shows under Deductions and Credits, it’s actually just a summary number and not necessarily related to any particular deduction (some of it is not even a deduction - i.e. federal taxes withheld on your federal return).
Also, if you scroll down past the Tax Breaks page on the Deductions and Credits screen to the Estimated and Other Taxes Paid. Click Show More. Then select Income Taxes Paid. You will see a blue link that will give you a breakdown of the actual number. See screenshots
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Why is my income tax payments on the "your tax breaks page" higher than the total of the federal tax withheld that I entered from several statements?
The "income taxes paid" number summarizes ALL of the taxes you have paid either directly or through withholdings on Forms such as W2s, 1099s, etc for both your federal and state returns. For example, that number would include both of your Federal and state withholdings from your W2s. It can also include local taxes, refunds applied to this year's taxes from a prior year, balances due from prior years that were paid in this year, and payments made with any extension you might file.
While it shows under Deductions and Credits, it’s actually just a summary number and not necessarily related to any particular deduction (some of it is not even a deduction - i.e. federal taxes withheld on your federal return).
Also, if you scroll down past the Tax Breaks page on the Deductions and Credits screen to the Estimated and Other Taxes Paid. Click Show More. Then select Income Taxes Paid. You will see a blue link that will give you a breakdown of the actual number. See screenshots
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