I have entered my data for Tax Year 2021 to TurboTax and wanted to verify the tax brackets I am in as I often did.
Based on my total income, my tax brackets should be 24% for ordinary income and 15% on long-term capital gain tax. However, instead I found the two marginal rates being 25.8% and 18.8%, respectively, by subtracting/adding $1,000 from/to either a short-term capital gain (or ordinary dividend or interest income) or a long-term capital gain (or qualified dividend).
Is it possible that TurboTax has some errors in the calculations?
Can someone help? Thank you!
