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Federal Tax Brackets
I need some help. I am using Turbo Tax Deluxe. I am able to complete 3 returns with the program I purchased. I am keying in a friends return. The AGI is $29519 federal Tax showing in Turbo Tax is owed $16213. The taxable percentage according to the IRS is 12%. So 12% of the AGI of $29519 is $3542.28. Turbo tax Deluxe is wrong. How come it is showing that the Federal income tax showing owed is $16213, when the 12% is only $3542.28? I will not submit the return as it stands. Please review and advise.
Sincerely
Sandra
[email address removed]
a month ago