Turbo says my regular tax is $968 based on $11,111 of taxable income. Tax tables show $1113 for Married filing Jointly - (10%). I agree with tax income $ but not tax $ ??
recap: I'm in agreement on taxable income but question how turbo can calculate a tax that is not 10% as is the tax tables. table vs. turbo can differ due to % but not $145 variance.
02963
1 Best answer
Anita01
New Member
Jun 5, 2019 11:32:49 PM
The tax tables are not used for many tax calculations. For example, if you had any capital gains or qualified dividends, that income is taxed at a lower rate. The tables are only used if all your income is taxed at ordinary income rates.
2 Replies
Anita01
New Member
Jun 5, 2019 11:32:49 PM
The tax tables are not used for many tax calculations. For example, if you had any capital gains or qualified dividends, that income is taxed at a lower rate. The tables are only used if all your income is taxed at ordinary income rates.
bert54
New Member
Jun 5, 2019 11:32:51 PM
thank you; your correct. I should have done better review of my 2017 notes. bert54