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My Fed Tax calculated by TT is less than 50% of the amount comparing to a manual calculation using taxable income and IRS tax rate. What could cause this?
I am surprised to see TT calculated Fed tax is less than 50% of the amount that I manually calculated using my taxable income and IRS tax rate. How do I know if TT calculation is correct? What could cause such a big gap? Is there any place I should check? Thanks.
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‎June 3, 2019
12:20 PM