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Taxable income= $72,821, married filing jointly, both over 80 years old. Turbotax calculation = $8,112 total tax, Form1040 tax table= $8,358 tax. Why the difference?
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June 3, 2019
10:19 AM
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Get your taxes done using TurboTax
If you had qualified dividends and/or long term capital gains from the sale of an investment, you can't use the tax tables because that kind of income is taxed at lower rates than ordinary income. The tax tables assume all the income is ordinary income.
June 3, 2019
10:19 AM
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