Category: General Questions
It's Not Calculating Correctly
Several things can cause your return to not calculate the way you thought it would. Here are some areas you may want to review if your return does not seem to be calculating the way you thought it would.
The tax on Form 1040 line 44 is not the same as the tax tables:
Do you have capital gains (line 13) or qualified dividends (line 9b)?
If so, look at your PDF and see if there is a Qualified Dividends and Capital Gains Worksheet at the end of their federal return forms.
When you have qualified dividends or capital gains, you don’t use the tax tables. You use a worksheet to figure your tax. You can view this worksheet by viewing your return. Go to Summary> View/Print Return > click the printer icon and open the return.
Form 2441 – Credit for Child and Dependent Care Expenses is not calculating on my Form 1040:
1. Have you entered expenses in both sections: Dependents and Credits > Form 2441?
If not, go to Federal Section > Deduction (Enter Myself) > Credits > Child Care Credit and enter info for Child Care Provider and then the Qualifying Person listed or not listed on 1040.
2. Do you have a qualifying child who was under age 13 during the year? If they were age 13 or older, they don’t qualify.
If the child is not UNDER age 13 (that is, 12 years old or under) during that tax year you don’t qualify.
3. Do you have a tax liability on line 44?
a. If not, the credit won’t calculate. It is nonrefundable.
b. If you do have a tax liability, is the Child Tax Credit (line 52) eliminating the liability and giving you the Additional Child Tax Credit on line 67?
c. You may be getting the Child Tax Credit instead of the Credit for Child Care Expenses because you receive an additional credit on line 67. If you took the Credit for Child Care Expenses, you would miss out on that additional credit on line 67. It’s to your benefit to take the Child Tax Credit.
4. Do both spouses have earned income (W2s)?
a. If only the Taxpayer or only the spouse has earned income, you cannot receive the credit.
b. Exception: If the nonworking spouse was a full-time student during any 5 months or was permanently disabled.
1. You just have to enter income for the non- working spouse to calculate the credit on Form 2441. To do this go to in Credits Menu > Child Care Credit > Additional Income. It’s $250 per month that they were a full-time student if you’re claiming expenses for one qualifying child, $500 per month if claiming expenses for 2 or more qualifying children.
c. Spouse looking for work- you can claim the credit if you or your spouse needed child care while looking for work. However, if you did not find a job and have no earned income for the year, you cannot take the credit or the exclusion.
5. Is your filing status married filing separate?
Credit can only be claimed using the Single, Married Filing Joint, Qualifying Widow(er), or Head of Household filing status.
It’s calculating Excess Social Security on line 71. What is that?
1. Check the W-2s. Are both for one person or are they for different people?
If not, just change the person in the Employee section of the correct W-2 and this should fix the calculation.
2. Check the amounts in box 4 for all W-2s.
Is the amount in box 4 of the W-2 for (employer name) correct?
3. Do the amounts on the W-2s for one person add up to more than $7,347 for 2015?
Based on what you entered, you had more social security withheld than you should have. Each year, the IRS sets a limit as to how much an employer should withhold. The limits are:
Schedule C is not showing my loss/income on the calculation
1. Go to Federal Section > Income (Enter Myself)>Income Menu > Profit or Loss from a Business > Edit > Questions
a. Is the box for “materially participated” checked? You need to check the box indicating you materially participated.
b. If you did not materially participate, the loss cannot be taken on your return.
2. If the box is checked and you are still having problems please contact our Support team for additional assistance.
Why does the Refund Generator say I owe my state when I paid taxes?
Look at how you entered your state W-2 information. Go to Federal section > Income (Enter Myself) > Wages and Salaries > Edit (view each W-2 entered) > make sure there’s an entry in box 17 for each W-2 you have entered.
The tax on Form 1040 line 44 is not the same as the tax tables.
Does your return contain form 2555 or Schedule D? Is your income over $100,000? Does you return contain Capital Gains or Qualified Dividends? Did you claim more than $2,100 in unearned income for a dependent on your return?
If so, you are not able to use the tax tables provided by the IRS. Your tax must be calculated using an alternate method. If you use TaxSlayer, we will calculate the tax for you. For more information about these exceptions, refer to this Knowledgebase Article.