@schoonmaker wrote:
typing in 127218 on line 15 results in a tax of 16292 on line 16. This is incorrect based upon the most recent tax tables for filing jointly. The tax from the table is 19568. Please help me correct and resolve this issue. Thanks!
The tax table is only 1 or 7 methods of computing the tax. The most common is if you have an amount on the 1040 line 3a or 7 then the tax tables are not used. The Qualified dividends and Capital Gains worksheet is used instead and the tax rate is lower so the 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.**
