Refund is being calculated incorrectly, the math doesn't add up. No penalties, so I don't understand why their own logic tool is wrong. Is there any way to fix this?

Forum|Forum|1 year ago
February 9, 2025
1 reply
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Total Taxes paid minus Tax Liability is showing a discrepancy of missing money on the refund. The tool is doing the math wrong.

Best answer by AnnetteB6

To be sure the right values are being used in the calculation, take a look at your actual Form 1040. If you are getting a refund, it is calculated by taking line 33 Total Payments and subtracting line 24 Total Tax.

To preview your Form 1040 go to the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)

Select Tax Tools
On the drop-down select Tools
On the pop-up menu titled “Tools Center”, select View Tax Summary
On the left sidebar, select Preview my 1040

Using TurboTax Desktop, click the Forms button at the top of the screen and highlight Form 1040 on the left side.

If you still find that there is an issue with the calculation, please come back and add more information about what you see on the Form 1040.

AnnetteB6Answer

To preview your Form 1040 go to the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)

Select Tax Tools
On the drop-down select Tools
On the pop-up menu titled “Tools Center”, select View Tax Summary
On the left sidebar, select Preview my 1040

Using TurboTax Desktop, click the Forms button at the top of the screen and highlight Form 1040 on the left side.

If you still find that there is an issue with the calculation, please come back and add more information about what you see on the Form 1040.

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neniq21Author

Per the preview of the form, line 24 boxes are empty where it states to add from lines 22 (0) & 23 (4) and the 24 total is showing 4.

Per the tools recap, I have a total of $12,267 in tax credits. Line 20 & 21 on the preview of the 1040 form.

Per the tools recap, I have a total of $10,475 in taxes paid. Line 33 on the preview of the 1040 form.

Tax Liability shows $12,149.

Refund is showing as $10,471. Line 34 & 35 on the preview of the 1040 form. which per your advise makes sense as it is Line 33 minus Line 24.

It seems a bit misleading for the tool to state that the Refund is calculated by having Total Taxes Paid ($22,742) minus Tax Liability ($12,149) because using this logic the refund should be $10,593.