Has anyone noticed an error in the TT Prem calculation of tax on taxable income? It appears that the first $23,200 bracket has not been included.

[DMT88]

This possible error occurred for on-line version and Married Filing Jointly status.

[KeshaH]

Are you thinking that your tax liability is too low? If so, do you have capital gains or qualified dividends? These are taxed at preferred rates so your tax liability would be lower than if you only had income taxed at ordinary rates.

If you'd like, we can look at your return and see exactly what you see to  help come to a resolution. The return will be scrubbed and won't include any of your personal details.

If you're using TurboTax Online:

Once you're logged in to your account,

- on the left hand panel, click on Tax Tools and then choose Tools

- on the pop up window, select Share my file with Agent

- you'll see a message saying you'll give us a copy of your tax return. Your personal information will be changed so we can't see any private information.

- click okay and you'll get another message with a token

Please reply to this message with your token so that we can further assist you.

[DMT88]

Thank you for your insight!  The preferred rate on qualified dividends has not previously been applicable in our tax situation.  I was able to manually recalculate the tax on qualified dividends and achieve the same result as the Turbo Tax calculation.