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Per the Instructions for Form 1040A the tax payable for taxable income between $47,500 and $47,550 is $7,653.00. However, TT had calculated the taxable amount as $7,603?
Per the Instructions for Form 1040A the tax payable for taxable income between $47,500 and $47,550 is $7,653.00. However, TT had calculated the taxable amount as $7,603?
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Per the Instructions for Form 1040A the tax payable for taxable income between $47,500 and $47,550 is $7,653.00. However, TT had calculated the taxable amount as $7,603?
Box 1b entries on a 1099-DIV may be taxed as 0% (though it can be taxed at higher % as your income changes), and the table isn't used for that part your taxable income, even if it is included in the total figure.
A special calculation is used for those. IF you save your tax return with "all forms and worksheets" and look at the PDF, there is a "Qualified Dividends and Capital Gain Tax Worksheet " where the tax is calculated and only uses the tables for part of your income.
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Per the Instructions for Form 1040A the tax payable for taxable income between $47,500 and $47,550 is $7,653.00. However, TT had calculated the taxable amount as $7,603?
Box 1b entries on a 1099-DIV may be taxed as 0% (though it can be taxed at higher % as your income changes), and the table isn't used for that part your taxable income, even if it is included in the total figure.
A special calculation is used for those. IF you save your tax return with "all forms and worksheets" and look at the PDF, there is a "Qualified Dividends and Capital Gain Tax Worksheet " where the tax is calculated and only uses the tables for part of your income.
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