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Why is the tax on my taxable income not what I find when I look it up on the tax tables?

 
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Why is the tax on my taxable income not what I find when I look it up on the tax tables?

Did you enter qualified dividends or have capital gains reported on your tax return?  If so, then the tax tables are not used.  The Qualified Dividends and Capital Gains Tax worksheet is used.

 

IRS Form 1040 Instructions for the worksheet on page 36 -  https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=36

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3 Replies

Why is the tax on my taxable income not what I find when I look it up on the tax tables?

Did you enter qualified dividends or have capital gains reported on your tax return?  If so, then the tax tables are not used.  The Qualified Dividends and Capital Gains Tax worksheet is used.

 

IRS Form 1040 Instructions for the worksheet on page 36 -  https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=36

Why is the tax on my taxable income not what I find when I look it up on the tax tables?

Any self-employment income? That has an extra tax.

JamesG1
Expert Alumni

Why is the tax on my taxable income not what I find when I look it up on the tax tables?

We are unable to see your tax return.  Are you payment more or less in taxes than you think that you owe?

 

Does your tax return contain the Qualified Dividends and Capital Gains Worksheet?  See page 36 here.

 

The worksheet can be viewed at Tax Tools / Print Center / Print, save or preview this year’s return / Include government and TurboTax worksheets.

 

Qualified Dividends and Capital Gains worksheet segregates your income and taxes the income at the 0%, 15%, 20% and your ordinary tax rate.

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