Skip to main content
January 20, 2024
Question

Turbo tax states a tax liability of $42,060, tax payments & credits of $47,679. It says the refund is $5,056. I calculate $5,619. What could the $563 difference be?

  • January 20, 2024
  • 1 reply
  • 0 views
No text available

1 reply

January 20, 2024

1. Please tell us the lines on the 1040 where these numbers appear.

 

2. Is it possible that you have an underpayment penalty of $563? This would be line 38 on the 1040. The way this is laid out on the 1040 makes it easy to miss.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"