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Line 16 tax computation worksheet
I've read through numerous Q&A's about the Line 16 "discrepancy" and see that most are resolved due to Qualified Dividends / Capital Gains being taxed differently that ordinary income. I have neither, so am still unsure why TurboTax calculates Line 16 to be about $9k LESS than the simple tax brackets * tax rates. The "Tax Smart Worksheet" has #2 "Tax Computation Worksheet" checked, and I do have Sole Proprietor losses, but I'm seeing evidence that it merely decreases my taxable income, so I'm not sure that has anything to do with the computation for Line 16.
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‎January 31, 2025
4:10 PM