Why Does My $3,390 Credit Exactly Match My State Tax Transcript's Combined Tax and Other Charges ($1,847 + $1,543)?

Looking at my state tax transcript and I'm confused about what (credit) means. On my transcript summary, I see the following breakdown: Summary Tax $1,947.00 Other $1,643.00 Credit ($3,590.00) Balance $0.00 I'm confused about what these entries mean, especially the Credit line with the parentheses. When I look at these numbers, the Tax amount of $1,947.00 plus the Other amount of $1,643.00 equals $3,590.00, which seems to be exactly offset by this Credit amount of ($3,590.00), leading to the $0.00 balance. This makes mathematical sense since $1,947.00 + $1,643.00 = $3,590.00, and then $3,590.00 - $3,590.00 = $0.00 balance. But I'm not sure what each line item represents. Why is the Credit amount shown in parentheses? Does this mean it's being subtracted? Is this showing that I've already paid these amounts, or is it showing a refund I should be receiving? Can someone break down what these lines mean, particularly why the Credit amount is shown in parentheses and how it relates to the other amounts? I'm trying to understand if I still owe money or if everything is settled.

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Esmeralda Gómez

•10M

The numbers on your transcript follow standard accounting notation where amounts in parentheses represent negative values or credits. The summary shows: - A base tax liability of $1,847.00 - Additional charges ("Other") of $1,543.00 - A credit of ($3,390.00) that exactly matches the sum of the tax and other charges - A final balance of $0.00 This pattern indicates that your tax obligations were fully satisfied, likely through withholdings, estimated tax payments, or tax credits. The ($3,390.00) credit perfectly offsets your combined charges ($1,847.00 + $1,543.00 = $3,390.00), which is why your balance shows $0.00. The "Other" amount of $1,543.00 could represent various additional assessments such as local taxes, fees, or penalties. Without more context from the full transcript, we can't determine the specific nature of these charges. This format is typical of state tax transcripts, where positive numbers represent amounts owed and parenthetical numbers represent credits or payments that reduce the balance.

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