topic Re: My turbo 1040 line 15 shows taxable income of 83,220 and line 16 (tax) of 9,842. per irs tax ... in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax/01/2118098#M143139 <P>I see where this is going, and I'm sure it will answer my question!&nbsp; Thank you!</P> Sun, 21 Mar 2021 21:23:38 GMT jspells-verizon- 2021-03-21T21:23:38Z My turbo 1040 line 15 shows taxable income of 83,220 and line 16 (tax) of 9,842. per irs tax table, joint tax for 83,220 is 9,890. why does turbo tax not agree with irs? https://ttlc.intuit.com/community/retirement/discussion/my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax-table/01/2117754#M143110 Sun, 21 Mar 2021 20:15:48 GMT https://ttlc.intuit.com/community/retirement/discussion/my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax-table/01/2117754#M143110 jspells-verizon- 2021-03-21T20:15:48Z Re: My turbo 1040 line 15 shows taxable income of 83,220 and line 16 (tax) of 9,842. per irs tax ... https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax/01/2117910#M143120 <P>You must have some capital gains from sale transactions or capital gain distributions&nbsp;from a 1099-Div.&nbsp; Capital gains are taxed a the capital gains tax rate, which in your case is probably 15%.&nbsp; Your tax bracket for ordinary income is 22%.&nbsp; Check you return for an amount on line 7&nbsp; If my math is right, it should be around $690.</P> Sun, 21 Mar 2021 20:48:18 GMT https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax/01/2117910#M143120 SamS1 2021-03-21T20:48:18Z Re: My turbo 1040 line 15 shows taxable income of 83,220 and line 16 (tax) of 9,842. per irs tax table, joint tax for 83,220 is 9,890. why does turbo tax not agree with irs? https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax-table/01/2117920#M143122 <P>Any long term capital gains taxed at 0% (or at a lower rate than ordinary income)?</P> Sun, 21 Mar 2021 20:50:12 GMT https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax-table/01/2117920#M143122 SweetieJean 2021-03-21T20:50:12Z Re: My turbo 1040 line 15 shows taxable income of 83,220 and line 16 (tax) of 9,842. per irs tax ... https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax/01/2118098#M143139 <P>I see where this is going, and I'm sure it will answer my question!&nbsp; Thank you!</P> Sun, 21 Mar 2021 21:23:38 GMT https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax/01/2118098#M143139 jspells-verizon- 2021-03-21T21:23:38Z Re: My turbo 1040 line 15 shows taxable income of 83,220 and line 16 (tax) of 9,842. per irs tax table, joint tax for 83,220 is 9,890. why does turbo tax not agree with irs? https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax-table/01/2118105#M143141 <P>Got it - thanks!</P> Sun, 21 Mar 2021 21:24:40 GMT https://ttlc.intuit.com/community/retirement/discussion/re-my-turbo-1040-line-15-shows-taxable-income-of-83-220-and-line-16-tax-of-9-842-per-irs-tax-table/01/2118105#M143141 jspells-verizon- 2021-03-21T21:24:40Z