turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

user16018
New Member

How did you calculate my 2017 tax? Line 43 of my 1040 says 149,719 and line 44 says 24,864, but this tax amount is lower than I get when I use the IRS tax tables for2017?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

How did you calculate my 2017 tax? Line 43 of my 1040 says 149,719 and line 44 says 24,864, but this tax amount is lower than I get when I use the IRS tax tables for2017?

Did you have any long term capital gains?  Did you have any qualified dividends?  If the answer to either or both questions is "Yes" then that income is taxed a lower tax rates.  

How did you calculate my 2017 tax? Line 43 of my 1040 says 149,719 and line 44 says 24,864, but this tax amount is lower than I get when I use the IRS tax tables for2017?

Even though the full amount shows up as income on the 1040 as income, if you have capital gains or qualified dividends the tax on line 11 is not taken from the tax table but is calculated separately from schedule D.  The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet.  It does not get filed with your return.  In the online version you need to save your return as a pdf file and include all worksheets to see it.  

https://ttlc.intuit.com/questions/1899683-form-1040-line-44-amount-is-less-than-standard-irs-tax-tab...
 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question