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Solved

Federal Credits not included in 'Federal taxes you have paid plus certain credits'

Forum|Forum|1 year ago
March 22, 2025
1 reply
0 views

Under Federal review. Summary page shows three sections.

1. Federal Tax Summary page shows Total Income, Deduction, Taxable income, & Credits. There is also link to Detail Tax Breakdown tab here. This link shows 2024 Tax Breakdown. The breakdown ends with showing Total Payments and credits. The total payments and credits shown in the breakdown matches actual amounts.

2. How we calculate your Federal Refund - 2.1: Federal Taxes you owe. 2.2: Federal Taxes You've paid, Plus Certain credits [This is where my concerns is - Amount shown here doesn't match the Total Payments and credits from Tax Breakdown section].

3. Year-over-Year comparison

Can anyone please explain?

P.S. It is possible that '2.1 Federal Taxes you owe' already deducts credits but in my opinion it shouldn't.

Best answer by JohnB5677

I suggest you look at what is posted to the 1040 Tax Return.

From the left sidebar

Select Tax tools
Hint: You may have to minimize the Federal and State selections
Click Tools
A Menu will pop up
Select View tax summary
On the left panel click Preview my 1040

Some Key numbers to compare:

11 Adjusted Gross Income
12 Deductions
15 Taxable income
16 Tax
19 Child Tax Credit
26 Earned Income Tax Credit
28 Additional Child Tax Credit
33 Total Payments
34 Overpayment
35a Refund
37 Amount you owe

JohnB5677Answer

I suggest you look at what is posted to the 1040 Tax Return.

From the left sidebar

Select Tax tools
Hint: You may have to minimize the Federal and State selections
Click Tools
A Menu will pop up
Select View tax summary
On the left panel click Preview my 1040

Some Key numbers to compare:

11 Adjusted Gross Income
12 Deductions
15 Taxable income
16 Tax
19 Child Tax Credit
26 Earned Income Tax Credit
28 Additional Child Tax Credit
33 Total Payments
34 Overpayment
35a Refund
37 Amount you owe

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