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April 5, 2025
Question

The Tax Due is not correct. Can someone double check?

  • April 5, 2025
  • 2 replies
  • 0 views

How come my Tax Due is 2408? Is there a bug in calculation? I also attached the screenshot from Form 1040. 
7731 - 5407 = 2324

2 replies

baldietax
April 5, 2025

do you have a penalty on line 38, that's added into line 37 calc even tho the comment says it's line 33 subtracted from line 24

VolvoGirl
Employee
April 5, 2025

Yes probably the penalty on line 38.  That is added to line 37.  You get a penalty if you owe more than $1,000 and other reasons.  

 

If you get a penalty on 1040 line 38, you might be able to eliminate it or at least reduce it. You can go to Federal Taxes tab or Personal tab, under Other Tax Situations and select Start by the Underpayment Penalties. You will answer a series of questions that may reduce or eliminate the penalty. Or you can elect to have the IRS figure the penalty for you. It's form 2210.


How to add form 2210 for Underpayment Penalty
https://ttlc.intuit.com/community/tax-payments/help/how-do-i-add-form-2210/00/25703

 

It's under

Federal or Personal (for Home & Business Desktop)

Other Tax Situations

Additional Tax Payments

Underpayment Penalties - Click the Start or update button

 

April 5, 2025

Thanks. I do have a penalty. Thanks for pointing that out.