pgel17
New Member

My income after standard deductions is about $74000 but federal tax due is around $300 what is wrong with turbo?

No, thanks

Get your taxes done using TurboTax

Did you report Qualified Dividends and/or Capital Gains on your tax return?  If so, the taxes on your taxable income shown on Form 1040 Line 44 is calculated using the Qualified Dividends and Capital Gains worksheet, not the IRS tax tables.  See this IRS website for the QDCG worksheet - <a rel="nofollow" target="_blank" href="https://apps.irs.gov/app/vita/content/globalmedia/capital_gain_tax_worksheet_1040i.pdf">https://apps...>
pgel17
New Member

Get your taxes done using TurboTax

No I did not ...but do not know how turbo figured it out...however , the IRS tables must be used because my income on line 44 of form 1040 is under $100,000, when these tables are used , my due tax is little over $10,000 , a big difference

Get your taxes done using TurboTax

To confirm - On your Form 1040 Line 43 your taxable income is showing as $74,000.  What is the amount shown on Line 44, Line 56, Line 63 and Line 74?
pgel17
New Member

Get your taxes done using TurboTax

Form 1040 lines 44 and 56 showing tax due of about $3200 and line 75 showing tax payed around $2900 ...thanks

Get your taxes done using TurboTax

On Line 44 are there boxes checked for Form 8814 or Form 4972 or does box c have an entry or a written entry to the left of Line 44?
The taxes on $74,000 if only from the tax tables would be $10,176 if Married Filing Jointly or $14,278 if Single.
pgel17
New Member

Get your taxes done using TurboTax

These boxed are not checked ...and $10176 is right...

Get your taxes done using TurboTax

You will have to speak with a TurboTax support agent about this issue.

See this TurboTax support FAQ on how to contact a support agent (do not use the community support option) - https://ttlc.intuit.com/questions/3401489-how-do-i-contact-turbotax?jump_to=answer_5566005

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