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Retirement tax questions
I compared the tax rate schedule for our taxable income($29498 owed) to what Turbo Tax calculated ($31864). So seems it used 28% tax rate, not 25%. BUT, thanks to your info ... although I can't find that worksheet in the forms, I did see that on line 44 on 1040, tax is correct at $29498. THEN, my self-employment tax got added to come up with the "total tax" ... that is why it looks like higher tax rate applied. Thank you so much for your great advice!
‎June 6, 2019
5:39 AM