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Business & farm
Thanks for the draft. But my problem still isn't solved.
The IRS directions for schedule G say: If taxable income is over 12,950: tax is $3,129 + 37% Of the amount over 12,950.
After doing the 1041's first page's step by step using TT Business software, the taxable income is 17,296. Using that formula I get a tax of 4,737.02. But the TT Business software is plugging in 2,572 as the tax.
There is no distribution to confuse things. I wonder why the Business software is putting in such a wrong number for tax amount.
‎January 1, 2021
7:33 PM