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Get your taxes done using TurboTax
The tax table you are looking at is for ordinary income only. Some income is taxed at different rates (Qualified Dividends/Long-Term Capital Gains are taxed at a lower rate than ordinary income). If you have any of the following included in your return, the tax table doesn't give you accurate results:
- Qualified Dividends and Capital Gain Tax Worksheet
- Schedule D Tax Worksheet
- Schedule J
- Form 8615
- Foreign Earned Income Tax Worksheet
- There is a list of other possibilities on the Tax-Smart worksheet, see below.
You can see how TurboTax calculated your tax number by looking at the Form 1040 Worksheet (Wks). About half-way down, you will see Tax-Smart Worksheet, and it will list what components and worksheets were factored into your tax figure calculation.
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March 3, 2021
2:27 PM