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Get your taxes done using TurboTax
Thanks, but line 13 is correctly automatically entered from Sch D. You maybe should play around with Sch D, and you’ll see line 13 changes accordingly, then you can manually calculate federal tax with different numbers that you played around in Sch D. Then, compare your manual results with TurboTax results, you’ll see TurboTax numbers are always bigger - lead you to overpay tax. IRS’s number is exactly the same as my manual calculation’s, certainly smaller than TurboTax’s internal calculation’s. As I mentioned in previous post, the manual calculation is the portion of base+marginal from tax-table for the amount that does include capital gain, plus capital gain tax.
March 4, 2023
9:21 AM