- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Tax Bracket went up from 12% to 22% but still paying 12%
Can someone please tell me what I am missing?
There are 2 scenarios for 2023 taxes. MFJ, standard deduction.
Scenario 1 - Taxable income = $84539.00
Tax = $9679.00 (12%)
Scenario 2 - Taxable income = $94369.00
Tax = $11313.00 (12%)
Turbo tax is telling me my tax bracket went from 12% to 22% but in both calculations above
Turbo Tax's calculation is still 12% in scenario 2. Shouldnt it be ($20761.00) 22%?
Thank you!
‎February 14, 2024
7:23 AM