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jzawis
New Member

Tax due calculated by TT (line 44) is @ half of 1040 tax tables for my taxable income (line 43). Shouldn't they match?

The amount of tax due as calculated by TurboTax (line 44) is about half of what I get when looking at the tax tables (married filing jointly) for my taxable income (line 43) in the back of Form 1040. Shouldn't they match?

Everything else in my tax forms looks correct, except the calculation of tax due. Why is TurboTax's answer different from the tax tables? (This is all prior to any other adjustments).  

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1 Reply
cfaprst
New Member

Tax due calculated by TT (line 44) is @ half of 1040 tax tables for my taxable income (line 43). Shouldn't they match?

Do you have long-term capital gains and/or qualified dividends?  These will result in tax at a lower rate than the tax tables.

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