turbo tax calculated tax incorrectly

[Ednamildred90]

I printed out my return because I was mailing it in later.  Then I noticed that apparently turbotax incorrectly calculated the tax.  Single, Form 1040SR, line 11b taxable income is $923.

Lines 12a thru 15 are all 0.  According to the tax tables shouldn't my taxes owed be $91 ?

Please explain what I am seeing wrong or give me a refund.  Thank you.

[VolvoGirl]

What is the total tax on line 16?  Or what line is the amount due on?  You didn't say if you have a refund or tax due.

[macuser_22]

Probably because the tax table is only one of seven ways to calculate the tax.

My guess is that you had capital gains taxed as a 0% tax rate.

Anything on lines 3 or 6?

Print all forms and worksheets and look at the 1040/1040SR Worksheet, Smart Tax Worksheet lin1 A (1-7) - what method is checked?

[Ednamildred90]

Line 16 is 0.  I do not have any tax withheld so I never expect a refund.  Usually I pay a small amount in tax because of 401K distributions.  I am retired.

[Ednamildred90]

I do have a small capital gain.  I don't even see the worksheets for my return.  I downloaded after I did the taxes but no worksheets were attached.  Where do I find them?  Line 6 shows 2,010 in capital gain.  Long term.  

[Ednamildred90]

OK.  I got the worksheets but found nothing where you said to look.  I did look at the capital gains worksheet

and the way I followed it because it was such a small amount it looked to me that nothing would be taxed.  Looking at sch. D it says to put the $2010 on line 6.  That makes it taxable, correct?  sounds confusing.

I still think if line 11B gives me a taxable income of $923, then there should be a tax.  

[macuser_22 · Accepted solution]

If you have a "Qualified Dividends and Capital Gains Worksheet" then the calculated tax will be on line 27

[Ednamildred90]

Yes.  Thank you for getting me looking in the right direction.  I worked through that worksheet and saw how the tax was calculated and why my tax due is zero.  Thanks for the help.

[cbd014az]

Turbo tax calculated my tax wrong!

Instead of walking through  the tax rate tables it took 26% of my taxable income.  My tax went up over 50% from 2018 even though my taxable income was lower in 2019.  What is wrong with the program?  There isn't even a 26% rate bracket and I have no income in a bracket above 22%.  Really disappointing.  

[macuser_22]

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@cbd014az wrote:

Turbo tax calculated my tax wrong!

Instead of walking through  the tax rate tables it took 26% of my taxable income.  My tax went up over 50% from 2018 even though my taxable income was lower in 2019.  What is wrong with the program?  There isn't even a 26% rate bracket and I have no income in a bracket above 22%.  Really disappointing.  

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The tax table and rate schedule is only 1 of 7 ways to calculate the tax depending on your situation and what yiu entered.   Look at the 1040/1040SR worksheet for line 11 that will should the method used and form that look at the form for that method to see the tax calculations.      The overall tax might also be higher if penalties have been added on a 5329 or underpayment for example.

[Getliferight]

I was not suppose to pay fee and it charged me

[xmasbaby0]

@Getliferight 

WHY DO I HAVE TO PAY?  I WANT THE FREE EDITION

The information that you can enter in Free Edition is pretty limited now.  Thanks to the new tax laws that began for 2018 returns, there are no more simple Form 1040EZ or 1040A's.  Everything goes on a Form 1040 that has three extra "schedules" with it, and if you need any of those schedules, you are not able to use the Free Edition.  Using the standard deduction instead of itemizing does NOT mean you will not need any of those schedules.https://ttlc.intuit.com/questions/4511011-what-happened-to-the-1040a-and-1040ez   If you started in the Free Edition and entered any data that required any of those three schedules, you have to upgrade to a paid version.   The Free Edition cannot be used for self-employment income, investment income, rental income or a student loan interest deduction,

https://www.irs.gov/forms-pubs/about-form-1040 

If you qualify to use it, there is another full-featured free version of the software:

Try Free File: 

You qualify if your income was $39,000 or less, or $72,000 or less if active duty military, or if you qualify for Earned Income Credit

https://ttlc.intuit.com/questions/1900583-what-is-turbotax-free-file-program

• https://ttlc.intuit.com/questions/2026912-how-do-i-switch-to-turbotax-free-file-program

Note:  If you do not qualify to use Free File then you will have to upgrade to Deluxe or higher in the paid versions of the software.   

 Online Deluxe $40  State software $40

Or—-Use this IRS site for other ways to file for free

https://apps.irs.gov/app/freeFile/

If your TurboTax fees are higher than expected, you can reduce them by removing add-ons:

• Remove Premium Services
• Remove MAX Defend & Restore
• Remove a state
• Remove PLUS Help & Support
• Remove Pay With Your Refund

[mark bell]

can fix it.

[mesquitebean]

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@mark bell wrote:

can fix it.

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Sorry, but we have no idea why you are posting.   This is a user community forum and to get any suggestions, potential helpers will need to understand your issue.  So far there has been no mention of any issue.  "Can't fix" is not enough info.