Hello
When i add $1610 in qualified dividends (1099-DIV 1b = 1610$) in web TurboTax my federal tax liability rises by $292 and state (IL) by $79. I do not understand where these numbers are coming from - according to my research dividends should be taxed @ 15% (i'm being taxed around 18%) and IL should not tax dividends (and it is taxing me 5%).
Similar situation with capital gains on stocks. When i add sales of ESPP sales with adjusted cost basis (1099 Supplemental form) my total gain or loss is calculated @ $4056.31, but my Federal Tax Due raises by $808 and IL tax by $201. While IL number matches (4.95% of $4056.31 = $201). My Federal tax should be 15% of $4056.31 = $608, while i'm being taxed over $200 more. All sales are long-term and reported as such. Married filling jointly, i'm well under $250 000 so i should not pay Net Investment Income Tax.
Can anyone help me understand these where these numbers are coming from?
