simple tax rate question

KentuckyEd · ‎January 31, 2023

So I'm retired and have a very simple tax calculation and end up with a taxable income of $5,550.00. Filing status is married filing jointly. Turbotax calculates my tax due as $558.00 NOT $555.00?? Why the extra $3.00? Should be just a straight 10%, right? Am I missing something? Already filed and they were accepted but I just saw this.

MinhT1 · ‎January 31, 2023

The tax is taken from IRS tax tables which gives tax for each tranche of income of $50.

The tax tables give a tax of $558 for incomes of $5,550 and less than $5,600 (see page 4 of this IRS document).

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MinhT1 · ‎January 31, 2023

The tax is taken from IRS tax tables which gives tax for each tranche of income of $50.

The tax tables give a tax of $558 for incomes of $5,550 and less than $5,600 (see page 4 of this IRS document).

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

KentuckyEd · ‎January 31, 2023

Thank you very much.

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simple tax rate question