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Investors & landlords
Tax was 585 after W2.
It became 11830 after adding only 1099-B.
10,660 taxes on (Long Term 58214.31 + Short term 871.93)
I expected (58214.31 *0.15) + (871.93 *0.24) additional tax.
8732 + 209 = 8941
So I expected 8941 tax, but it is showing 10660.
To get to 10451 on long term tax, it would be 10451/58214.31 (18%)
So, it seems like 18% is being applied instead of 15% for long term capital gains.
I have not added any deductions. I am just using standard deductions for married filing jointly. I really think this is a bug with TurboTax.
March 19, 2022
4:23 PM