is there an issue with how TurboTax calculates taxes on Line 11a on the 1040 form. My turbotax says I owe $75,065 based on income on line 10 of $350,424. If you go and do it manually from the IRS 2018 Tax Computation worksheet, the math says it should be taxed at $75,515 (difference of $450) which one is correct?
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If it appears that there is a difference between the tax due in the program and the calculation of a higher amount from the IRS tables, the difference is likely due to Capital Gains income or Qualified Dividends in your return. Both those income sources can be taxed at much lower rates than the ordinary income from the tax tables.
If it appears that there is a difference between the tax due in the program and the calculation of a higher amount from the IRS tables, the difference is likely due to Capital Gains income or Qualified Dividends in your return. Both those income sources can be taxed at much lower rates than the ordinary income from the tax tables.
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