lydia33 Posted January 31, 2008 Report Posted January 31, 2008 I have never had this problem before. Taxapyer's only income from early withdrawal of IRA of $2600.00. Taxes were withheld for $260.00. The taxpayer is not 59 1/2 so owes the penalty. Therefore owes no additional tax. The error message say: The total federal income tax withheld cannot equal to or be greater thatn the sum of wages etc. It is not. I a have rechecked to see if I made a typo but I did not. Any help from you guys before I call the tech support (hades). Quote
lydia33 Posted January 31, 2008 Author Report Posted January 31, 2008 Could the problem have been an old 1099r that they had last year and the information rolled over for that company and they did not receive one from that company. Quote
AnnieR Posted January 31, 2008 Report Posted January 31, 2008 Why don't you delete the information you have entered and start over? Perhaps if you entered $250.00 the system isn't recognizing the . and is seeing 25000? It's worth a shot. Don't use the decimal point, just enter $250 AnnieR Quote
lydia33 Posted February 1, 2008 Author Report Posted February 1, 2008 see above about the rejection code 295 error. It's not anything that I've done, it is something WITH THE SOFTWARE. Thanks. I did that and it was rejected, too. Quote
Don in Upstate NY Posted February 1, 2008 Report Posted February 1, 2008 I have never had this problem before. Taxapyer's only income from early withdrawal of IRA of $2600.00. Taxes were withheld for $260.00. The taxpayer is not 59 1/2 so owes the penalty. Therefore owes no additional tax. The error message say: The total federal income tax withheld cannot equal to or be greater thatn the sum of wages etc. It is not. I a have rechecked to see if I made a typo but I did not. Any help from you guys before I call the tech support (hades). Is the AGI on the return correct ($2,600)? Quote
AnnieR Posted February 1, 2008 Report Posted February 1, 2008 It just dawned...the rejection says w/h cannot be more than wages and there are no wages. Could that possibly be what the problem is? AnnieR Quote
taxperson Posted February 1, 2008 Report Posted February 1, 2008 It just dawned...the rejection says w/h cannot be more than wages and there are no wages. Could that possibly be what the problem is? AnnieR It's the IRS, not the software. Original version of the error code http://www.irs.gov/pub/irs-utl/1346_attach...-11_ty_2007.pdf "0295 Form 1040 – The Total Federal Income Tax Withheld (SEQ 1160) cannot be equal to or greater than the sum of Wages, Salaries,Tips (SEQ 0375), Taxable Interest (SEQ 0380), Total Ordinary Dividends (SEQ 0394), Taxable IRA Amount (SEQ 0480), Taxable Pensions Amount (SEQ 0495), and Social Security Benefits (SEQ 0553) and the Gross Winnings (SEQ 0040) of Form W-2G." It was just revised: http://www.irs.gov/pub/irs-utl/1346fs_chg_08.pdf "Form 1040 – The Total Federal Income Tax Withheld (SEQ 1160) cannot be equal to or greater than the sum of Wages, Salaries, Tips (SEQ 0375), Taxable Interest (SEQ 0380), Total Ordinary Dividends (SEQ 0394), IRA Distributions Received (SEQ 0475), Pensions Annuities Received (SEQ 0485), Unemployment Compensation (SEQ 0552), Social Security Benefits (SEQ 0553), Amount of Other Income (SEQ 0570) and Gross Receipts of Schedule C/C-EZ (SEQ 0200). Exception: This check is bypassed when Combat Pay has been excluded from Wages. This check is also bypassed if Capital Gain/Loss (SEQ 0450) or Other Gain or Loss (SEQ 0470) or Rent/Royalty/Part/Estates/Trust Inc (SEQ 0510) is significant (not equal zeroes)." Wouldn't be surprised if ATX put out an update. Quote
lydia33 Posted February 1, 2008 Author Report Posted February 1, 2008 Thanks. I have updated and I will recreate the return and send ONE MORE time. Quote
Booger Posted February 1, 2008 Report Posted February 1, 2008 Thanks. I have updated and I will recreate the return and send ONE MORE time. lydia33, that's a cute little doggie in the picture............is it yours? Booger Quote
Booger Posted February 1, 2008 Report Posted February 1, 2008 lydia33, that's a cute little doggie in the picture............is it yours? Booger PS I'm not flirting................but I did hear that this board is a GREAT PLACE to meet women!! Booger (Six Foot two, eyes of blue) Quote
lydia33 Posted February 1, 2008 Author Report Posted February 1, 2008 Thanks, but I am happly married for 33 years with two grandchildren. Nice to talk to you on this board because we all need FRIENDS that have this love hate relation with TAXES. Quote
lydia33 Posted February 1, 2008 Author Report Posted February 1, 2008 Thanks, but I am happly married for 33 years with two grandchildren. Nice to talk to you on this board because we all need FRIENDS that have this love hate relation with TAXES. Oh sorry you were referring to my daughter. HA HA yes she is spoiled rotten. She is like me thinking about spring when she can go out side and play. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.