In adding a 2017 $15 state tax refund to my IRS 2018 income, Turbotax indicates that I increase my 2018 IRS taxes by $11 (since in a 22% tax bracket I had expected only a $3 increase). When I pretend that the state refund to be added as income is $100 I increase my 2018 taxes by $22 (and for my 22% tax bracket 22% this is correct). Is something wrong with the Turbotax program?
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The tax tables are in $50 intervals. The difference in taxes from one interval to the next can be $11 for some income amounts. So if your income was near the top of one of those intervals before the $15 income increase and was then near the bottom of the next interval after the $15 increase, the tax increase would be $11.
The tax tables are in $50 intervals. The difference in taxes from one interval to the next can be $11 for some income amounts. So if your income was near the top of one of those intervals before the $15 income increase and was then near the bottom of the next interval after the $15 increase, the tax increase would be $11.
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