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New Member
posted Jun 3, 2019 12:04:31 PM

How do i double check turbo taxes tax due calculation

I am trying to understand how Turbotax came up with the tax due on my federal return.  It does not seem correct

1 5 1834
5 Replies
New Member
Jun 3, 2019 12:04:32 PM

Turbo started to say the amount as I entered info

Level 2
Nov 13, 2019 3:24:39 PM

Did you ever get an answer?  I have the same question?

Level 15
Nov 13, 2019 3:26:40 PM

You have to look at each line on your return.  If you don't understand an amount post back with the line # and we can help you figure out where it came from.

Level 2
Nov 15, 2019 9:02:51 AM

I want to understand how line 11 on form 1040 is calculated.  I took my taxable income from line 10 and looked it up on the Federal Tax tables and it did not match what was on line 11.  

Level 15
Nov 15, 2019 9:38:12 AM

Is your line 11 less?  

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.

 

For the Desktop version you can switch to Forms Mode and open the worksheet to see it.  Click Forms in the upper right (upper left for Mac) and look through the list and open the Qualified Dividends and Capital Gain Tax Worksheet.

 

https://ttlc.intuit.com/community/forms/help/form-1040-line-11-amount-is-less-than-standard-irs-tax-table/00/25752