Get your taxes done using TurboTax

I carefully checked about imports from financial institutions, and they’re all correct.

The real problem is in its tax calculations from total taxable income when line 13 has a capital gain amount. All these calculations are internal to TurboTax software, users cannot correct it even if it made wrong. By checking it against TaxTable + capital gain tax, it is quite obviously wrong if you punched some number into line 13 on form 1040. The final federal tax number is neither based on long term nor short term gain tax rates, also not income marginal tax rate for line 13! It is is simply a mystery, but the end result is that you pay more federal tax than needed. I am lucky that IRS caught the wrong calculations for me. Afterward, I played around Turbotax software, and noticed the issues in the above.

 

Intuit need fix it, otherwise it will continue to hurt million customers each year.