I used the TurboTax 2020 to generate the 1040-ES forms for 2021. I entered $18,746 in Qualified Dividends field. I entered -$3,000 in the Short-Term Capital Gains and Losses field. TurboTax reported that I had $13,238 in short-term losses and $2,346 in long-term losses that were being carried forward from 2020.
I entered $164,016 income from taxable RMD, Social Security, pensions, and interest. I left the next several pages blank and marked Over 65 on the Increased Standard Deduction page. I skipped the Tax Credit page.
On the Estimated Tax Bill for 2021 page, TurboTax reports that I will have taxable income of $146,688. After adding the $14,250 standard deduction for a senior over 65 to the reported taxable income, the total still doesn't equal the ordinary income that I entered.
Ignoring the fact that Qualified Dividends are taxed at lower rates, the total gross taxable income that I entered in TurboTax is $179,762. Subtract the $14,250 standard deduction yields $165,512. This leaves $18,746 in income that isn't being included in taxable income.
Am I missing something?
