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Taxable Income is 375,943. MFJ. Per Form 1040 tax table, federal tax liability should be (375,943) x (.32) - 37,969 = 82,333. TurboTax says Tax Liability is 83,857. Why ?
My taxable Income is 375,943. Married Filed Jointly. Per the 2020 Form 1040 instructions tax table, federal tax liability should be (375,943) x (.32) - 37,969 = 82,333. TurboTax says my federal Tax Liability is 83,857. Why is that? Is it incorrect?
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ā€ˇFebruary 7, 2021
11:57 AM