topic Re: Tax calculation High in Get your taxes done using TurboTax

Tax calculation High

somenathdas — Mon, 13 Jul 2020 03:14:14 GMT

For 2019, my Taxable income is $231,273, so I'm in the MFJ 24% bracket. Based on the 2019 Federal tax table, the tax I should pay is $28,765+ ($231,273-$168,400)*24% = $43854. TurboTax Premier computed my tax at $45610. Why the difference of $1756?

Re: Tax calculation High

VolvoGirl — Mon, 13 Jul 2020 03:17:09 GMT

What line is it on? Is there a penalty on line 24? Of maybe you owe a penalty for something else? Check each line on your return.

Re: Tax calculation High

somenathdas — Mon, 13 Jul 2020 03:25:23 GMT

@VolvoGirl

How do I check the line number? I have not filed it yet. Where do I check for the line # 24? I am trying to file using turbotax and it's showing me overall numbers. Am I missing anything?

Re: Tax calculation High

VolvoGirl — Mon, 13 Jul 2020 03:27:17 GMT

I assume you are using the Online version?

Before filing, You can preview the 1040 or print the whole return

https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-filing/00/26160

Re: Tax calculation High

Anonymous — Mon, 13 Jul 2020 03:50:52 GMT

look at schedule 2 to see if there were any additional taxes besides the income taxes.