Question
Fed tax is only 6%. "Taxable interest income" seems to be ignored.
Your total income for the year was $56,116, including:
- Taxable interest income, $34,478
- Ordinary dividends, $24,638
- Capital gains, -$3,000
You took the Standard Deduction of $14,600. Your total deductions were $14,646, including a $46 Qualified Business Income Deduction.
After applying your deductions, your taxable income was $41,470. Based on this amount, your total tax before any credits was $2,468.
I can't fathom how it believe I owe less than the lowest bracket which is 10%. It seems like it's only taxing my dividends.
The Tax Smart sheet has "Qualified Dividends and Capital Gain Tax Worksheet" selected
