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Why is my tax due more than the difference in my tax liability and taxes paid?

 
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Why is my tax due more than the difference in my tax liability and taxes paid?

Are you using the Total Tax on line 24?  Check 1040 line 38 for any penalty.

 

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.


It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

Why is my tax due more than the difference in my tax liability and taxes paid?

Look at your tax return, Form 1040 on Line 37 for how the tax owed were calculated - 

 

Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.

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