@LM-3 wrote:
Turbo Tax Deluxe calculated my taxable income as $62,709 which for 2020 means a tax due of $7,132. Turbo Tax calculated a tax due of $3,136. How do I resolve this problem??
Depends on which of 7 methods is used to calculate the tax for the types of income that was entered.
In most cases it is because you entered qualified dividends or interest that is taxed at capital gains rate which can be a zero tax on that income so the total tax will be lower.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
