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Get your taxes done using TurboTax
Thank you. However, Im still unsure the bracket being used. If I have income of 271,000 and total deductions of 28,800 (12,600 std ded plus 4 exemptions @ 4,050) that would give me an AGI of 242,200. 242,200 falls within the 33% bracket for married filing jointly of (231,451 - 413,350). Therefore, if i had 172,000 in foreign income exclusion and housing exclusion(101,300 plus 70,700). my tax would be calculated as 33% of 70,200 or approx 23K.
242,200 x .33 = 79,926
172,000 x .33 = 56,760
difference = 23,166 see above
Instead TURBO TAX has calculated my tax(using 28% tax bracket) to be 19,656 or 28% x 70,200
242,200 x .33 = 79,926
172,000 x .33 = 56,760
difference = 23,166 see above
Instead TURBO TAX has calculated my tax(using 28% tax bracket) to be 19,656 or 28% x 70,200
‎June 4, 2019
6:57 PM