topic My taxable amount is different that my gross income. why? in Retirement tax questions

My taxable amount is different that my gross income. why?

moneware — Wed, 17 Mar 2021 15:49:45 GMT

why is my taxable amount be different than my gross income?

Re: My taxable amount is different that my gross income. why?

DanaB27 — Wed, 17 Mar 2021 16:18:06 GMT

Gross income includes all income you receive but not all of your income might be taxable. Therefore, your taxable income will be different from your gross income.

Re: My taxable amount is different that my gross income. why?

VolvoGirl — Wed, 17 Mar 2021 16:20:41 GMT

And taxable income is your gross income minus the Standard Deduction or your Itemized Deductions whichever is more. Plus there can be other adjustments to your gross income. Look at your return to see all the lines.

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: My taxable amount is different that my gross income. why?

dixonf — Thu, 27 Jan 2022 22:01:14 GMT

where do enter taxable income

Re: My taxable amount is different that my gross income. why?

DawnC — Thu, 27 Jan 2022 22:22:31 GMT

Each type of income is entered into the respective income category in TurboTax. That data together with all of your personal information is what TurboTax uses to calculate your taxable income. If you need to see what your taxable income number is, you can print or preview your Form 1040. Taxable income is on line #15, last line on page 1. @dixonf

Re: My taxable amount is different that my gross income. why?

Hal_Al — Thu, 27 Jan 2022 23:30:01 GMT

YOU don't enter taxable income. TurboTax calculates your taxable income and puts it on line 15 of form 1040.

Form 1040

Line 9 Total Income (or Gross income)

Line 11 Adjusted Gross Income (AGI)

Line 15 Taxable Income