Tax Amount does not match IRS Tax Table

[cd45223]

The tax liability amount does not match the corresponding tax liability in the IRS tax table. The amount in the IRS table is $3k lower. I have income from a W-2, K-1 through partnership, and a 1099-INT. The K-1 does not have capital gains. 

Where can I look to explain this discrepancy? 

Thank you in advance. 

[MinhT1]

You may have the Net Investment Income Tax and the Additional Medicare Tax, which are added to your tax liability.

See This IRS document on the NIIT and this IRS document on the additional Medicare Tax.

[FredMiller]

Kudos to you for going to the tax table, very old school. 

In this case, you may want to go into the forms side of TurboTax and look at Schedule 2 of form 1040 - Additional Taxes.  

There's a plethora of other taxes beyond regular income tax listed on that page.  If there is an entry on that page, that line should also tell you which form to look at for how the additional tax is calculated. 

Just a guess, but your interest income may have triggered the Net Investment Income tax, a surcharge on top of the regular income tax.   

Hope this helps.  

[rjs]

What exactly do you mean by the "tax liability amount"? Which line of Form 1040 is $3,000 more than the amount from the Tax Table? Look at the actual tax form, not a TurboTax screen.

Is your taxable income on Form 1040 line 15 less than $100,000? If it's $100,000 or more you cannot use the Tax Table to calculate your tax.