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