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February 20, 2024
Question

Why is it saying I owe an additional $400 in taxes if my Taxable Income is showing as $0, my Tax Rate is showing as 0%, and I already paid $700 in withholding?

  • February 20, 2024
  • 1 reply
  • 0 views
We (married, filing jointly) only have social security income and the $700 withholding we have already paid is from a qualified retirement withdrawal.

1 reply

February 20, 2024

It would depend on several things.  The best thing to do now is for you to use the Preview My 1040 tool to check your 1040, and Schedules 1, 2 and 3 to see where the tax is coming from. Once you see that you might have more details that would allow us to be more specific.

 

On the menu bar on the left that shows. 

    

  1. Select Tax Tools 
  2. On the drop-down select Tools 
  3. On the pop-up menu 
  4. Select View Tax Summary 
  5. On the left sidebar, select Preview my 1040 

If you are unsure after your review you can choose to send us a diagnostic file.

 

If you would like to send us a “diagnostic” file that has your “numbers” but not your personal information it would help.  If you would like to do this, here are the instructions: 

 

TurboTax Online:

Go to the black panel on the left side of your program and select Tax Tools. 

  1. Then select Tools below Tax Tools. 
  2. A window will pop up which says Tools Center.  
  3. On this screen, select Share my file with Agent. 
  4. You will see a message explaining what the diagnostic copy is.  Click okay through this screen and then you will get a Token number. 
  5. Reply to this thread with your Token number and your state. This will allow us to open a copy of your return without seeing any personal information.  

TurboTax CD/Download:

If you like, you can send a copy of your return that will be scrubbed to eliminate your personal data by using these steps:

  1. Click on Online in the top left menu of TurboTax CD/Download for Windows
  2. Select 'Send Tax File to Agent'
  3. Write down or send an image of your token number and state then place in this issue.
  4. We can then review your exact scenario for a solution.
  5. Please also tell us any states included in the return. This is necessary for us to view the return.

We will then be able to see exactly what you are seeing and we can determine what exactly is going on in your return and provide you with a resolution. 

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