Solved: My Taxable income is $38,523; Your tax program reflects total tax due $4,771; That amount is incorrect based on the IRS tables and the right amount of tax due is $4,846
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1942golfer
New Member

My Taxable income is $38,523; Your tax program reflects total tax due $4,771; That amount is incorrect based on the IRS tables and the right amount of tax due is $4,846

 
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Hal_Al
Level 15

My Taxable income is $38,523; Your tax program reflects total tax due $4,771; That amount is incorrect based on the IRS tables and the right amount of tax due is $4,846

Look at line 9b of form 1040 or 1040A. Qualified dividends and long term capital gains (line 13) are taxed a 0%. If you have that type of income, it is not straight look up in the tax table. TurboTax will prepare the Qualified dividends and capital gains work sheet to calculate you tax liability.

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Hal_Al
Level 15

My Taxable income is $38,523; Your tax program reflects total tax due $4,771; That amount is incorrect based on the IRS tables and the right amount of tax due is $4,846

Look at line 9b of form 1040 or 1040A. Qualified dividends and long term capital gains (line 13) are taxed a 0%. If you have that type of income, it is not straight look up in the tax table. TurboTax will prepare the Qualified dividends and capital gains work sheet to calculate you tax liability.

View solution in original post

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