Trying to reconcile tax figures

ESPlanners tax calculation is off by a few hundred dollars and I am trying to reconcile it with my tax statement.

I received 1570.00 in taxable refunds the year before, I tried entering the 1570 into special receipts and marked its tax status as ordinary.

The 1570.00 is not showing up in the Earned income column. How do I get the 1570.00 to show up in the earned income column.

Also, I see that the Adj Inc. column deducts the amount my 401k contribution for that year. I guess I need to add the 401k contribution to the earnings for that year, so that the 401k contribution is not taken out twice?

I already removed my medical insurance deductions from earnings, now I feel as if I should not remove 401k contributions from earnings because you already do that.


dan royer's picture

That's right. Enter gross earnings, including those you won't take as income but intend to push over to your 401K, and then when you indicate you have 401K contributions ESPlanner will get the taxes right on those contributions. If you want something to show up in earnings column, you'd have to enter it as earnings. Otherwise, you can enter as special receipts and tax at ordinary rate but that doesn't show up as earnings--but it's still taxed at ordinary rates and show up in the Total Income report.