topic Re: 1040 Line 16 discrepancy in Get your taxes done using TurboTax

1040 Line 16 discrepancy

JustAnotherTaxYear — Thu, 13 Feb 2025 21:14:28 GMT

On my 1040 for tax year 2023, line 15 is 109,201 and line 16 is 14,587. By my calculation (and at least one online calculator), line 16 should be 14,639. None of the special form boxes on line 16 apply, status is Married Filing Jointly. I'm trying to figure out how TT arrived at the lower number.

Re: 1040 Line 16 discrepancy

BillM223 — Thu, 13 Feb 2025 21:18:26 GMT

Without seeing your private tax data (which we in the Community can't do anyway), I would think the first thing to look for is, are there any Qualifying Dividends or Capital Gains, which are taxed at a lower rate than ordinary income?

Look for a Qualifying Dividends/Capital Gains Worksheet, to see if your tax was calculated that way.

Re: 1040 Line 16 discrepancy

JustAnotherTaxYear — Thu, 13 Feb 2025 21:24:50 GMT

Aha, bingo! I'll dig in to confirm, but I'll bet that's it. Thanks!