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Form 1040 Line 16 discrepancy, and I have NO capital gains, NO dividends, NO interest to convolute the calculation

Line 16 is discrepant by $9k.  I have NO capital gains or dividends and interest. Income is +$100k so the tax table I need to use appears to be Section B on page 74 of the IRS instructions.  I am not comfortable filing my taxes with this $9k discrepancy until I understand why it is occurring.

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1 Best answer

Accepted Solutions
AnnetteB6
Employee Tax Expert

Form 1040 Line 16 discrepancy, and I have NO capital gains, NO dividends, NO interest to convolute the calculation

Thank you for providing the token number of your file.  After taking a closer look at the diagnostic file of your return, the income tax amount shown on line 16 of Form 1040 is accurate.

 

Because your taxable income is greater than the limit for using the actual tax tables, there is a computation that takes place to determine your income tax.  I believe that you may have just missed a step when you made the computation yourself to double-check the number in your return.  

 

For your situation, here is the formula (without using your actual numbers):

 

taxable income (Form 1040 line 15) x 0.22 = intermediate value

 

Then:

 

Intermediate value - $9894 = income tax (Form 1040 line 16)

 

For reference, here is a screenshot of the tax calculation table from the IRS:  

 

 

Please respond if you have further questions.

 

@wardlow3311 

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6 Replies
AnnetteB6
Employee Tax Expert

Form 1040 Line 16 discrepancy, and I have NO capital gains, NO dividends, NO interest to convolute the calculation

First, take a look at the information on Form 1040 under line 16.  Are any of the boxes checked for 8814, 4972, or another form?  If so, those forms could be adding an additional tax owed.  

 

If none of the additional boxes are checked, it would help us to explain the situation to you in more details if you were willing to provide a diagnostic copy of your tax file.  The diagnostic file will not contain personally identifiable information, only numbers related to your tax forms.  

 

If you would like to provide us with the diagnostic file, follow the instructions below and post the token number along with which version of TurboTax you are using (Windows or Mac or Online; Deluxe, Premium, etc.) and what states you are filing in a follow-up thread.

 

If you are using a CD/downloaded version of TurboTax, use these steps:

 

  • Select Online at the top of the screen.
  • Select Send Tax File to Agent.
  • Click OK.
  • Post the token number here.

 

Use these steps if you are using TurboTax Online:

 

  • Sign in to your account and be sure you are in your tax return.
  • Select Tax Tools in the menu to the left.
  • Select Tools.
  • Select Share my file with agent.
  • A pop-up message will appear, select OK to send the sanitized diagnostic copy to us.
  • Post the token number here. 
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Form 1040 Line 16 discrepancy, and I have NO capital gains, NO dividends, NO interest to convolute the calculation

I can certainly do that, but I should have mentioned that the discrepancy is $9k LESS in taxes than the tax tables I mentioned.  None of the forms you mentioned are checked off, just the worksheet that does behind the scenes calcs that I cannot access. I will send this diagnostic file to you later today.  Thanks!!

Form 1040 Line 16 discrepancy, and I have NO capital gains, NO dividends, NO interest to convolute the calculation

token #111173485-66346167

 

Thank you in advance!

Form 1040 Line 16 discrepancy, and I have NO capital gains, NO dividends, NO interest to convolute the calculation

which version of TurboTax you are using (Windows or Mac or Online; Deluxe, Premium, etc.) and what states you are filing

 

Windows, Home & Business, MA

AnnetteB6
Employee Tax Expert

Form 1040 Line 16 discrepancy, and I have NO capital gains, NO dividends, NO interest to convolute the calculation

Thank you for providing the token number of your file.  After taking a closer look at the diagnostic file of your return, the income tax amount shown on line 16 of Form 1040 is accurate.

 

Because your taxable income is greater than the limit for using the actual tax tables, there is a computation that takes place to determine your income tax.  I believe that you may have just missed a step when you made the computation yourself to double-check the number in your return.  

 

For your situation, here is the formula (without using your actual numbers):

 

taxable income (Form 1040 line 15) x 0.22 = intermediate value

 

Then:

 

Intermediate value - $9894 = income tax (Form 1040 line 16)

 

For reference, here is a screenshot of the tax calculation table from the IRS:  

 

 

Please respond if you have further questions.

 

@wardlow3311 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Form 1040 Line 16 discrepancy, and I have NO capital gains, NO dividends, NO interest to convolute the calculation

Thank you @AnnetteB6  and OMGGGGGGGGGGGGGGGG, my profuse apologies for not FULLY reading ACROSS the Section B table!!!  I would have saved you a ton of time had I simply done so! Thank you so much for your assistance!!! 

 

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