dave2023
Returning Member

Tax law changes

Not completed, but close.  Looking at 1040 Line 15 for taxable income.  Line 16 is the tax ($3,800), which comes directly from Schedule D Tax.  Schedule D Tax takes 1040 Line 15 ($108K) and subtracts $83,350 (mfj) = $25K.  Tax is 15% of that = $3,800.  If 1040 Line 15 had been less than $100K, the tax table would have been used (=$15K).  This makes no sense.