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wfuss
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Hi. I have a return, single person, about 38600 in taxable. Turbotax calc is $3 higher than my Excel calc. How do I see how Turbotax is calculating the tax amount?

This is simple return.  First 11000 is tax at 10% plus the remaining about at 12%.  
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2 Replies

Hi. I have a return, single person, about 38600 in taxable. Turbotax calc is $3 higher than my Excel calc. How do I see how Turbotax is calculating the tax amount?

At that income level...the tax tables are used...not an exact %.

 

Sometimes TTX will show a lower tax....IF you have significant Qualified dividends or capital gains, in which case, special tax worksheets are used.

 

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Hi. I have a return, single person, about 38600 in taxable. Turbotax calc is $3 higher than my Excel calc. How do I see how Turbotax is calculating the tax amount?

Here's a link that gets you to the IRS PDF of the tax tables

 

Forms and Pubs Index Search | Internal Revenue Service (irs.gov)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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