Why doe Turbo Tax calculate my 2020 taxes much lower than using the Tax rate schedule?

[rbernardkohn]

Turbo  Tax calculates my tax at $5785. The 2020 IRS Tax rate schedule calculates it at  $7800.

[SweetieJean]

Any Long Term Capital Gains?  They are taxed at a lower rate.

[rbernardkohn]

Thanks for your reply. According to TurboTax Line 15, Taxable Income, is $68516. I had a long term capital gains loss, so no tax there. No short term capital gains. Line 16 Tax is $5782. According to the IRS Tax Rate Schedule, I'd be in the 12% bracket and my tax would be $7827. The difference is more than $2000. Why?

[SteamTrain]

How much on Line 3a Qualified dividends?  Those aren't taxed a the full rate either.

[SteamTrain]

Make sure line 7 on the 1040 is really a loss too.......Edited probably in parenthesis to show a loss... can be as much as -3,000  but no more.

Edit:  Just checked....Looks like they use a "-" sign, not a parenthesis for a loss