Woodguy53
Returning Member

Retirement tax questions

I am talking about TurboTax Deluxe - if on our 1040 form line 6 we have $58,xxx on line 6 why would the taxable amount be less than 50%  in this case 25,6xx. I realize it can be taxed up to 85% but don't understand TT using less than 50% as taxable, and can't find any reference or table to where the taxable portion would be less. (AGI 62K)