Reject Code: F1040-034-06
Form 1040, 'WithholdingTaxAmt' must be equal to the sum of the following: [(1) all 'WithholdingAmt' in [OtherWithholdingStatement] with corresponding 'WithholdingCd' having the value "FORM 1099" and (2) all Forms W-2, 'WithholdingAmt' and (3) all Forms W-2G, 'FederalIncomeTaxWithheldAmt' and (4) Form 8959, 'AddlMedcrRRTTaxWithholdingAmt' and (5) 'TotalAmt' in [BackupWhSchedulesK1Statement] and (6) all Forms RRB 1042-S, 'FederalIncomeTaxWithheldAmt' and (7) all Forms SSA 1042-S, ('NetTaxWithheldAmt' if it has a non-zero value, otherwise 'FederalIncomeTaxWithheldAmt')] unless Form 8958 is present in the return. When evaluating this, a tolerance of $5.00 is allowed.
An individual tax return receives reject code F1040-034-06 when an amount is entered in Other Federal Withholdings that is not tied to a tax document such as Form W-2 or Form 1099. If the amount is greater than $5, the IRS will not accept the return electronically.
Form 1040 may receive this reject if it includes withholdings reported on Form 1042-S as that form has no specific menu within the return. (An individual who receives Form 1042-S is typically a nonresident taxpayer filing Form 1040-NR.)
If a return receives this reject, evaluate if the entry in the Other Federal Withholdings menu belongs there or if it belongs elsewhere in the return. For example, if the withholdings are on a 1099-MISC, enter the form information in its menu. If the withholdings are on Form 2439, enter that form in its own menu.
Also evaluate if non-1099 withholdings have been entered as if they are 1099 withholdings, or vice-versa.
Otherwise, if the entry in this menu is correct and the e-filed return receives this reject, the return will need to be printed and mailed.
Correcting Reject Code F1040-034-06
To make or remove an entry in Other Federal Withholdings in TaxSlayer ProWeb, from the Federal Section of the tax return (Form 1040) select:
- Payments & Estimates
- Other Federal Withholdings