I am working on my taxes using turbotax. I see that the amount on Line 34 (overpaid) is 47$ more than the amount on 35a. The amount to be refunded is less than what I have overpaid. why?
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You may have an underpayment penalty included on your tax return. This occurs if you do not have enough withheld in taxes as your earn your income.
Check Line 38 on your tax return. If you see an amount here, this may account for the difference between your overpaid tax on line 34 and your actual refund amount on line 35a.
If this applies to your tax return, you can try to reduce your underpayment penalty by following the tip at the bottom of the link below.
thank you
Thank you, solved my problem.
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