Can anyone help? It seems I'm making a mistake when calculating tax bill.

charly13243 · ‎June 4, 2019

taxable income = 75608. Married Joint.

(75608-18650) x 15% + 1865 = 10408.7, wounds up to 10409.

Problem is, TurboTax is saying its 10411. Where am I going wrong? I know it's only $2 but it'll drive me crazy if I don't find out what's going on.

Thank you.

AnthonyC · ‎June 4, 2019

It's because of the way we actually pay taxes - it's not a straight percentage calculation like you have performed. We pay taxes based on a tax table that uses $50 increments. You can use the link below to see that the tax liability for MFJ at the $75,600 - $75,650 income level results in a tax liability of $10,411.

See 2017 Tax Table

View solution in original post

charly13243 · ‎June 4, 2019

Thank you. I don't recall ever running into this before.

Can anyone help? It seems I'm making a mistake when calculating tax bill.

Get your taxes done using TurboTax

Get your taxes done using TurboTax