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Question

TurboTax under reporting amount of taxes on line 16 of the 1040's. Taxable income $52,113 but the tax amount on line 16 only shows $2,908 vs tax table $5,860 for joint??

Forum|Forum|5 years ago
March 15, 2021
2 replies
8 views

How can this be? appears to be an error in the calculations, any thoughts?

TurboTax Premier Online

Alumni - Champ

Any long term capital gains taxed at 0%?

Level 2

Thank you, you pointed me in the right direction. We have both long Term Capital gains and Qualified dividends taxed at 0% based on being below the income threshold. Not very happy that Turbo Tax does not provided the actual calculations, but nonetheless I received the right feedback. Thanks again.