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Line 15 (taxable income) of my form 1040 generated by TurboTax Premier is $31,301. Line 16 shows $1,358 for my tax due and none of the boxes are checked for other forms. When I look up $31,301 in the Tax Table, I get $3,554 as the tax due. Am I missing something?
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Do you have qualified dividends or capital gains? These are calculated differently from ordinary income.
If so, look for the Qualified Dividends and Capital Gains Worksheet, which show how each type of income is taxed.
Do you have qualified dividends or capital gains? These are calculated differently from ordinary income.
If so, look for the Qualified Dividends and Capital Gains Worksheet, which show how each type of income is taxed.
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