H & R tax calculator much higer than Turbotax??

[jbanderson]

What is the name of your state? Tennessee

I have a question about the tax refund calculator on H&R.
After I put in my information at the top it will say my refund is $1700
but at the bottom is says total tax $904??

This is about $750 higher than what Turbo tax is saying my federal refund is going to be.

This is married filling jointly
I have filled out the turbo tax and it says the Federal refund at the top at $956. I have not E-filed with turbotax yet but I guess what im really wondering is if im looking at the right numbers? Its just odd that the Federal Refund number on the turbo tax is very close to the TOTAL TAX number on H&R.

Thanks alot

[jbanderson]

I just went back to turbo tax and foud some more numbers


H&R is saying
Your refund is $1,693
Adjustable gross income $26,629
Greater of Itemized standard deductions $10,700
personal exemtions $6,800
taxable income $9,129
regular tax $913
total tax $913

Federal incom taxes withheld $2,606

And TurboTax is saying
Federal Refund $1,001
Income and Adjustment $26,954
Deductions $10,700
Taxable income $15,930
Total Tax $1,606
total payments $2,607
Refund/tax due $1,001


So why is H&R showing personal Exemtions? And its also showing the AGI As being lower on H&R
I bought my home this year and have paid $2218.31 in intrest and paid $246 in realestate taxes
also have school loan and paid $324 in intrest

thanks alot!!
a

[LdiJ]

Originally Posted by jbanderson

I just went back to turbo tax and foud some more numbers


H&R is saying
Your refund is $1,693
Adjustable gross income $26,629
Greater of Itemized standard deductions $10,700
personal exemtions $6,800
taxable income $9,129
regular tax $913
total tax $913

Federal incom taxes withheld $2,606

And TurboTax is saying
Federal Refund $1,001
Income and Adjustment $26,954
Deductions $10,700
Taxable income $15,930
Total Tax $1,606
total payments $2,607
Refund/tax due $1,001


So why is H&R showing personal Exemtions? And its also showing the AGI As being lower on H&R
I bought my home this year and have paid $2218.31 in intrest and paid $246 in realestate taxes
also have school loan and paid $324 in intrest

thanks alot!!
a

If turbotax is not including your personal exemptions then you have done something wrong. You may have inadvertantly coded yourselves as dependents of someone else. Go back to your personal and demographic information and try to see what you have done wrong. You probably misunderstood a question somewhere.

The slightly higher income that Turbotax is showing is 325.00, which is nearly the same as your student loan interest. Make sure that you included your student loan interest properly on Turbotax.

[jbanderson]

you were exactly right! thanks alot! I accidently put can be claimed by our paerents.
thanks

[LdiJ]

Originally Posted by jbanderson

you were exactly right! thanks alot! I accidently put can be claimed by our paerents.
thanks

You are welcome.