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tjrb5513
New Member

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??

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

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??

Any long term capital gains taxed at 0%?

tjrb5513
New Member

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??

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.

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