I have one short term covered stock I sold for $2174.49. I have short term losses of other stocks of -$1005.99. If I subtract out the ST loss I should be taxed on a gain of $1168.50 When I enter this into TT Premium the tax at the Fed level is $605 (27.82%) and CA State is $203 (9.33%). I am filing married jointly and the line 9 on the 1040 is less than $300K. What is going on here? Shouldn't it be 15% for fed =$1168.50x0.15=$175.28?
