I'm using Turbo tax premier 2021, the taxable income on line 15 is $130,815 and tax due on line 16 is $19,776.00. Calculating the tax due by using tax table comes to $20.276. Why the $500 difference?
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I bet you had qualifying dividends and/or long term capital gains ... if so you do not use the tax chart. Save a PDF of the return with the worksheets to find the QDCGTW to see how it was calculated.
This happens when you have qualified dividends and/or long-term capital gains which are taxed at lower rates. In your case, qualified dividends and LT capital gains are taxed at 15% while your tax bracket is 22%.
Thank you for the quick response! Immediately after posting, I went back through all the forms and found exactly what you mention in your reply! Sorry for the post! Hast makes waste!
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