You'll need to sign in or create an account to connect with an expert.
The tax is too high it would seem. I suggest you look at the form 1040 and schedules 1 to 3 to make sure nothing was entered incorrectly as follows:
1. Find the "Tax Tools" option on your left menu bar and click on it
2. Click on "Tools"
3. Click on "View Tax Summary"
4. On your left menu bar find the "Preview my 1040" option and click on it
What kind of income do you have? It also depends on what kind. Do you have self employment income or get any 1099Misc? What actual line do you see the $8,781 tax on? Is it line 12a? Oh, did you get any 1099R for early distributions? You could owe extra penalty.
how is the federal tax calculated - for 2018 it was 10% on the first $19,050 - 12% on next $58,350 etc
line 11a is the total of standard or itemized deductions + the deduction for qualified business income. it is not a tax
taxable income is on line 11b
first tax line is 12a
12b includes amount on 12a + the taxes on schedule 2 and 3
13a is child care and dependent credits
13b is 13a + line 7 from schedule 3
12b less 13b = line 14
14 + 15 = line 16 total tax
you may computation may be wrong if you had qualified dividend or net long-term capital gains
so do you still have an issue?
if so post back
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
rhett-hartsfield1
New Member
daupet1
New Member
Omar80
Level 3
caitastevens
New Member
jjon12346
New Member