2018 Tax Table Lookup Discrepancy

[GregJK]

Using Turbo Tax Deluxe 2018

1) start a new file - married filing joint

2) enter one W2 for one of the spouses - just enter income=$68100; federal tax withheld = $5000

3) No more entries!

4) After applying Std Deduction ($24000) Turbo Tax calculates tax of $4914, refund of $86

Checking the 2018 tax tables, I come up with tax of $4911, refund of $89

This 2018 tax calculator corroborates $4911:  https://www.taxact.com/tools/tax-bracket-calculator 

Any ideas for the extra $3 in the Turbo Tax calc?

[SteamTrain]

Not sure...but page 8 of the IRS 2018 TaxTables that are published, they show $4914 right now.

https://www.irs.gov/pub/irs-pdf/i1040tt.pdf

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Not sure what  tables you are checking.

...or maybe if TaxAct is using either proposed 2019 table numbers (from somewhere)...or maybe pre-2018 proposed numbers not finalized at the time their tool was created..

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[GregJK]

Thanks, SteamTrain!  This explains the discrepancy.  I was using the brackets for the calculation.  IRS publishes tables in $50 ranges using below brackets.  $4914 in my example is precise tax for $44125 which lies at midpoint of tax table range $44100 - $44150.  So always a +/- $3 vs tables when computing via brackets.

2018 Tax Brackets for Married – Filing Jointly

Tax Rate	Taxable Income Bracket	Tax Owed
10%	$0 to $19,050	10% of taxable income
12%	$19,051 to $77,400	$1,905 plus 12% of the amount over $19,050
22%	$77,401 to $165,000	$8,907 plus 22% of the amount over $77,400
24%	$165,001 to $315,000	$28,179 plus 24% of the amount over $165,000
32%	$315,001 to $400,000	$64,179 plus 32% of the amount over $315,000
35%	$400,001 to $600,000	$91,379 plus 35% of the amount over $400,000
37%	$600,001 or more	$161,379 plus 37% of the amount over $600,000