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Level 2
posted Mar 27, 2022 1:19:08 PM

Incorrect Federal Tax Calculation

I am using Turbotax Premier 2021 to file my tax return.  I am married filing jointly. After entering all the information, line 15 Taxable Income on Form 1040 is $168339. line 16 Tax is $28495.  But according to the tax calculate worksheet from IRS, tax should be 168339x0.22-8503=$28531. There is a $36 difference. Please advise what is the problem with the calculation. Thanks.

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1 Replies
Level 2
Mar 27, 2022 1:58:18 PM

I just figured out I have $522 qualified dividend, which is taxed at lower rate.