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Get your taxes done using TurboTax
I have the same issue. Line 14 is $1,847 and Turbo Tax shows tax at $518 which would be the tax on the entire taxable income not the amount on line 14. Tax schedule shows the tax on $1,847 would be $184. Turbo Tax is using the wrong figure to determine the tax on line 15. Now the unearned income is not only being tax at the parents rate but also 2tx at child rate.
March 6, 2021
8:22 PM