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Users discuss how to find and use Schedule 2 Form in TurboTax for 2018 and 2020 tax returns. Learn about the conditions, changes and problems related to Alternative Minimum Tax, Excess Advance Premium Tax Credit Repayments and Qualified Distributions.
On Form 1040 line 11b there is a box that is checked if Schedule 2 is included in your tax return. If that box is not checked, Schedule 2 is not used and would not be included in your PDF. Schedule 2 is used only if you have Alternative Minimum Tax (AMT) or repayment of excess advance premium tax credit.
Using TurboTax Online, enter the amount somewhere else on Schedule 1 Part II (like Jury duty). so that your AGI and tax are correct. You can get Schedule 1 in fillable PDF from IRS and hand-make a correct Schedule 1. You would have to file a paper return. OR. Ask for a refund. @jwingbar
IRS Schedule 2 primarily deals with the Alternative Minimum Tax (AMT), Advance Premium Tax Credit, and non-income taxes, such as the self-employment tax. Schedule 3: Additional Credits and Payments IRS Schedule 3 covers nonrefundable credits (such as the foreign tax credit and the credit for child and dependent care expenses), estimated tax ...
What is form 1040 schedule 2 I would never check that box but it is your choice. There are reasons that a state tax refund could be partially or fully nontaxable such as not itemizing, being in AMT, or other reasons. if you check this the refund will be taxed as income even if it was otherwise nontaxable or only partially taxable.
"85. Enter your parents’ income tax for 2020. Income tax amount is the total of IRS Form 1040—line 22 minus Schedule 2—line 2. If negative, enter a zero here." It is not asking you to enter the amount on Schedule 2 line 2. It's asking you to enter the amount of income tax, which it defines as Form 1040 line 22 minus Schedule 2 line 2.
You can view your Form 1040 as well as Schedule 1 and Schedule 2 before you file and pay for your TurboTax Online. You should be signed in and working in TurboTax Online. To pull up a copy of your 2019 Form 1040 and Schedules 1 to 3, follow these directions:
Other taxes, including self-employment tax, from Schedule 2, line 10 . went from zero (line 15.) to over 20k. - thus forcing me to owe federate tax rather than get a refund like i normally do. from my naive read of schedule 2, i don't owe AMT, have health insurance through my employer nor have taken any money out of any savings accounts.
"37. Enter your (and spouse’s) income tax for 2020. Income tax amount is the total of IRS Form 1040—line 22 minus Schedule 2—line 2. If negative, enter a zero here." It does not say that your income tax is on Schedule 2. It says that the amount of tax that you should enter is the amount on Form 1040 line 22 minus the amount on Schedule 2 ...
@sravan2813 . The tax return forms for 2018 have a Form 1040 and six possible schedules. Some people do not need ANY of those six schedules, and some people need only one or maybe a few of them.