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February 4, 2021
Question

Why did Turbotax add "Other taxes" to my 1040 simple Federal tax form?

  • February 4, 2021
  • 1 reply
  • 0 views

Turbotax said "Other taxes" from Schedule 2 line 10. I don't have one. This added $14,101 to my taxes. Since our income did not change that much from last year, I really don't understand why we should pay $ 10,000 more in our taxes, when taxes were not increased in the last year.

 

This version of Turbotax is not as good as previous ones.

    1 reply

    February 8, 2021

    2020 Federal 1040 Schedule 2 lists several additional taxes including self-employment tax computed on Schedule SE.

     

    Are you reporting self-employment income or a 1099-MISC or a 1099-NEC?  These may generate self-employment tax.

     

    You can view your Federal 1040 and Schedule 2 by following these steps:

    • Down the left side of the screen, click on Tax Tools.
    • Click on Tools.
    • Under Other helpful links, click on View Tax Summary.
    • Down the left side of the screen, click on Preview My 1040 to see the actual tax return that you prepared.
    • Down the left side of the screen, click Back to return.

    You can print or view your full tax returns prior to filing after you have paid for the software.

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