ThomasM125
Expert Alumni

Get your taxes done using TurboTax

You would take the $47,000 minus a standard deduction of $25,100 that would leave taxable income of $21,900. $19,900 of that would be taxed at 10% and the balance would be taxed at 12%, so your tax on the $47,000 of income would be $2,230. The $500 should be taxed at about 20% so that would be an additional $100 or so. There might be other things on the return that would make up the difference.

 

You can view your form 1040 while working in the online version of TurboTax by following these steps, you might find this helpful:

 

While working on your return in the Federal section of TurboTax:

 

   1.  Choose the Tax Tools icon on your left menu bar

   2.  Tools

   3.  View Tax Summary

   4.  Choose the Preview my 1040 on your left menu bar

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