I've been using Turbotax for years and had the same question. The key is looking for the "Print" option instead of anything labeled "preview" or "review" - for some reason Turbotax hides it this way. Once you click print, you'll get PDF options where you can see everything before paying. Just a tip - I always check the "Cost Basis" for any investments super carefully. That's where I've found most errors in my returns, especially if you had any stock sales or cryptocurrency transactions.

For the online version of TurboTax, try looking for a small "Print" link in the top right corner of your screen while you're in the review section. Sometimes it's also hidden under a "Tools" or "More Options" menu. Once you click on Print, you should see options like "Print return for your records" or "Save as PDF" - this will generate a complete copy of all your forms including federal and state returns before you pay anything. Since you mentioned having such a complex return this year, I'd also suggest double-checking that TurboTax correctly allocated your income and deductions between the different states. Multi-state returns can get tricky, especially with business income involved. The preview will show you exactly how everything was calculated across all your forms.

Just a heads up - if your TP vs IMF difference is due to a genuine error on the IRS's part, you should request a complete explanation in writing. I had a similar issue where the IMF TOTAL TAX was higher, but it turned out they had double-counted one of my income sources.

Adding to what others have shared - the key thing to understand is that TP TAX FIGURES represents YOUR calculation while IMF TOTAL TAX is the IRS's automated recalculation based on all the data they have in their system. The $290 difference in your case suggests they found something specific. Common causes include: - Missing income from a 1099 or W-2 you didn't receive - Incorrect calculation of credits (Child Tax Credit, EITC, etc.) - Wrong filing status or dependency exemptions - Math errors in tax calculations Before accepting the adjustment, I'd recommend getting your Account Transcript and Wage & Income Transcript from the IRS website. The Account Transcript will show exactly what codes they used for the adjustment, and the Wage & Income Transcript will reveal if there's unreported income. You absolutely have the right to contest this within 60 days if you believe it's incorrect. But if their calculation is right, it's better to accept it rather than go through the appeals process unnecessarily.

My brother is a contractor and I can tell you exactly what's happening here. They're probably reporting much less income than they actually make, and 1099s make that harder to do. That's why they're pushing back so hard. Send a final written notice (certified mail) stating that you'll be filing the 1099s for the full amount as legally required, whether or not they provide W-9s. Include IRS Form W-9 and a prepaid return envelope. State clearly that failure to provide the information may result in them being subject to backup withholding on future payments. Keep copies of everything. If they still don't provide the W-9s, file the 1099s with whatever information you have (name, address, etc.) and indicate they refused to provide their taxpayer ID. The IRS will handle it from there.

Wait, I'm confused about something - I have a rental property and pay people for repairs all the time. Am I supposed to be collecting W-9s from everyone? Like even the guy who mows the lawn for $50 a week? This is the first I'm hearing about this requirement...

One thing nobody mentioned - you need to get a Social Security number for your baby ASAP after birth to claim them on your taxes. The hospital will usually give you the paperwork to apply, but if not, you need to go to the Social Security office with the birth certificate. You absolutely cannot claim any child-related credits without their SSN.

Since you're expecting in July and will be working only 8 months this year, there's another important consideration - make sure you understand how your reduced income will affect your tax situation. With around $50k in actual earnings (8 months of $75k), you might qualify for the Earned Income Tax Credit (EITC) which phases out at higher incomes but could be significant with one child and lower income. Also, regarding your student loan interest - you can deduct up to $2,500 per year in student loan interest payments, and with $3,500 in payments annually, this could be a nice deduction. Just make sure you get the 1098-E form from your loan servicer. For your FSA question - you can't double-dip on medical expenses. If your FSA covered something, you can't also claim it as a medical expense deduction. But any out-of-pocket costs beyond what FSA covers could potentially be deductible if you itemize and they exceed 7.5% of your AGI. One more tip - keep detailed records of everything related to childcare payments to your aunt. You'll need her SSN, receipts, and documentation that this is legitimate childcare (not just family help) to claim the Child and Dependent Care Credit. This credit can be up to $1,050 for one child under 13.

I think everyone's missing something important - if you normally owe $6500 in taxes, and you're retired, why aren't you having taxes withheld from your pension/retirement distributions? That would solve this whole quarterly payment issue. You could increase your withholding for a few months to cover your estimated tax liability for the year, then reduce it back to normal. Withholding is treated as happening evenly throughout the year even if it doesn't, which gives you more flexibility than quarterly payments.

The withholding strategy mentioned by Mei Zhang is absolutely brilliant and often overlooked! I'm a retired tax preparer and this was one of my favorite solutions for clients in similar situations. Since you're already having some taxes withheld from your pension, you can simply contact your pension administrator and request a temporary increase in withholding to cover your expected 2024 tax liability (around $6,500 based on your normal income). You could even have them withhold the entire amount over just a few months if that works better for your cash flow. The beauty of this approach is that it completely eliminates the need for quarterly estimated payments AND provides automatic Safe Harbor protection. The IRS will treat that withholding as if it occurred evenly throughout the year, so you won't need to worry about Form 2210 or any penalty calculations. This is much simpler than trying to convince your accountant about annualized income methods or dealing with the complexity of estimated payments after a one-time inheritance. Just increase withholding temporarily, then reduce it back to normal once you've covered your expected tax liability for the year.