Question

Online TurbotTax 2021 is showing wrong tax information, more owed than actual

Forum|Forum|4 years ago
January 23, 2022
2 replies
0 views

Short TLDR: TurboTax is showing a significantly larger amount in my owed taxes.

So I started my taxes in TurboTax like I always do, but was really concerned after only imputting my W2 and TT showed I owed money. Ok, I can accept that, but out of curiousity, I went and pulled 1040 and manually figured out my AGI, Taxes and Refund using solely my W2. This is a dramatic difference. Manual figures of just W2 show a refund of roughly 1k, and turbo tax with only the same information shows I owe money.

I think there's bug in your system or you're using the incorrect tax tables. anyone else started thier taxes and think something is off?

X

xmasbaby0

Employee

We cannot see your screen or your tax return, nor can we attest to your skills at calculating your tax return by hand instead of using the software. What we do know is that if you enter all of your data into the software correctly and completely, you should get accurate results. Print out the return you prepared with the software and put it side by side with your hand calculated one and see what is different.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

M

MiloBuilderAuthor

Hi XmasBaby,

This is exactly my point. When I pull the tax tables and forms from IRS.gov, i get a dramatically different result from what I put in TurboTax with exactly the same information. We are talking over a $1k difference where TT shows I owe money, but the IRS forms done manually show a refund.

This is why I theorize there is a bug in the system or their tax tables are off. I work in software development, I imagine it's something as simple as their system is pulling the wrong data table or using a wrong # in the calculation(s).

X

xmasbaby0

Employee

Again----when you put the returns side by side----where are the differences?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

J

jbj94

ME TOO! Also after entering all my info my refund status for fed and state are $0 / $0. No matter what number I put in the result is the same. And, seems I owe over $1,000 for healthcare this year! WTF!! Also I can't choose "itemized deductions" EVER . . no matter what . . . the default is standard and that's it.

B

BillM223

We in the Community cannot see your screen nor your private tax data. Please concentrate on one issue and give us some data.

I can think of a number of reasons why you might enter a W-2 and not have any tax due or show a refund. But you have to give us a starting point.

"And, seems I owe over $1,000 for healthcare this year! " - Do you have health insurance through the Marketplace? And after you entered the 8962, you ended up owing the IRS? Again, we need detail.

"Also I can't choose "itemized deductions"" - you can normally choose Standard or Itemized, although there is usually not a good reason to second-guess TurboTax on this. Why do you want to Itemize?

@jbj94

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