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February 17, 2024
Question

My tax due does not equal my tax liability minus my taxes paid. Anyone else seeing this potential error?

  • February 17, 2024
  • 3 replies
  • 0 views
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3 replies

DoninGA
Employee
February 17, 2024

You will need to look at your federal tax return, Form 1040, on the lines for taxable income, tax liability, tax payments, taxes owed and tax refund to see a discrepancy, if any.

 

You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. 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.

VolvoGirl
Employee
February 17, 2024

If the Tax Due on line 37 is too much then check on line 38 for a penalty.  That adds to line 37.  

JohnB5677
February 20, 2024

Please use these steps to view your 1040 tax return.

 

You can preview your tax return by going to:

 

  1. On the menu bar on the left that shows.
  2. Select Tax Tools
  3. On the drop-down select Tools
  4. On the popup menu
  5. Select View Tax Summary
  6. On the left sidebar
  7. Select Preview my 1040.
  8. Schedules 1,2&3 are included if you scroll down past your 1040.
  9. To return to the entry screens press Back on the sidebar.

Some key numbers on your 1040 tax return are:

Line 15 - Taxable Income

Line 24 - Total Tax.

Line 25 d - Withholdings.

Line 26 - Estimated tax payments

Line 33 - Payments including Credits.

Line 34 - Overpayments.

Line 37 - Tax owed.

 

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