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If my taxable incomed was $91,738, filing jointly, why does TTx say I owe a tax of $14,753? 2018 tax tables say $12,059.

 
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1 Best answer

Accepted Solutions
IreneS
Expert Alumni

If my taxable incomed was $91,738, filing jointly, why does TTx say I owe a tax of $14,753? 2018 tax tables say $12,059.

UPDATED FOR TAX YEAR 2019

 

You tax may not be calculated using the tax tables.

TurboTax uses the appropriate method specified by the IRS for computing the tax depending on the type of income you have.   The methods for calculating tax include:

  • Tax Table;
  • Tax Computation Worksheet;
  • Schedule D Tax Worksheet;
  • Qualified Dividends and Capital Gain Tax Worksheet;
  • Schedule J;
  • Form 8615; or
  • Foreign Earned Income Tax Worksheet.

To see the method used to calculate your taxes, go to the Federal 1040 and look at the Tax Smart Worksheet.   To view the Tax Smart Worksheet, please follow these steps:

 

  1. While in your return, click Tax Tools > Tools  (in the black bar at the left of the screen).  
  2. Under "Other helpful links" click on View Tax Summary.
  3. Click on the Preview my 1040 link in the black bar.
  4. Using the scroll bar at the side of the 1040 window, scroll to the Tax Smart Worksheet between lines 10 and 11. 
  5. Line A will contain the amount of tax calculated, along with the method used to calculated your tax marked.  
  6. To go back to your return, click on the Back link in the black bar.

 

[Edited | 4/3/2020 |  11:19am PDT]



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3 Replies

If my taxable incomed was $91,738, filing jointly, why does TTx say I owe a tax of $14,753? 2018 tax tables say $12,059.

any penalties?

If my taxable incomed was $91,738, filing jointly, why does TTx say I owe a tax of $14,753? 2018 tax tables say $12,059.

Nope, it was foreign earned income that moved me to another tax table.
IreneS
Expert Alumni

If my taxable incomed was $91,738, filing jointly, why does TTx say I owe a tax of $14,753? 2018 tax tables say $12,059.

UPDATED FOR TAX YEAR 2019

 

You tax may not be calculated using the tax tables.

TurboTax uses the appropriate method specified by the IRS for computing the tax depending on the type of income you have.   The methods for calculating tax include:

  • Tax Table;
  • Tax Computation Worksheet;
  • Schedule D Tax Worksheet;
  • Qualified Dividends and Capital Gain Tax Worksheet;
  • Schedule J;
  • Form 8615; or
  • Foreign Earned Income Tax Worksheet.

To see the method used to calculate your taxes, go to the Federal 1040 and look at the Tax Smart Worksheet.   To view the Tax Smart Worksheet, please follow these steps:

 

  1. While in your return, click Tax Tools > Tools  (in the black bar at the left of the screen).  
  2. Under "Other helpful links" click on View Tax Summary.
  3. Click on the Preview my 1040 link in the black bar.
  4. Using the scroll bar at the side of the 1040 window, scroll to the Tax Smart Worksheet between lines 10 and 11. 
  5. Line A will contain the amount of tax calculated, along with the method used to calculated your tax marked.  
  6. To go back to your return, click on the Back link in the black bar.

 

[Edited | 4/3/2020 |  11:19am PDT]



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

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