What is the tax on line 16 income of $101,976.00 for a married couple filing jointly?

[Don527]

What is the tax on line 16 income of $101,976.00 for a married couple filing jointly?

[VolvoGirl]

There are different ways to figure the tax depending on the kind of income you entered.  If you have capital gains or qualified dividends the tax is not taken from the tax table but is calculated separately from schedule D.  The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet.  It does not get filed with your return.  In the online version you need to save your return as a pdf file and include all worksheets to see it.

[VolvoGirl]

If you don't have any capital gains or special income you can try using the tax table.  If you have over $100,000 you need to use a worksheet.

https://www.irs.gov/pub/irs-pdf/i1040tt.pdf

[Don527]

From the Table and follow-on worksheet:

My calculation is 22% of $101,976 ($22,435) minus $8,420 for $14,014.

Turbo tax says my tax is $14,287.

Why the difference?

Who is correct?

Thanks!

[VolvoGirl]

Read about line 16 in the IRS Instructions Page 31

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf 

And you checked line 15 for the taxable income?