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triciasmyth28
New Member

Taxable Income is 375,943. MFJ. Per Form 1040 tax table, federal tax liability should be (375,943) x (.32) - 37,969 = 82,333. TurboTax says Tax Liability is 83,857. Why ?

My taxable Income is 375,943. Married Filed Jointly. Per the 2020 Form 1040 instructions tax table, federal tax liability should be (375,943) x (.32) - 37,969 = 82,333. TurboTax says my federal Tax Liability is 83,857. Why is that? Is it incorrect?
3 Replies
DoninGA
Level 15

Taxable Income is 375,943. MFJ. Per Form 1040 tax table, federal tax liability should be (375,943) x (.32) - 37,969 = 82,333. TurboTax says Tax Liability is 83,857. Why ?

Contact TurboTax support for assistance with this particular issue.

 

Use this website to contact TurboTax support during business hours - https://support.turbotax.intuit.com/contact/

Or -

Support can also be reached by messaging them on these pages https://www.facebook.com/turbotax/ and https://twitter.com/TeamTurboTax

Or -

Use this phone number and select TurboTax - 1-800-4-INTUIT (1-800-446-8848)

VolvoGirl
Level 15

Taxable Income is 375,943. MFJ. Per Form 1040 tax table, federal tax liability should be (375,943) x (.32) - 37,969 = 82,333. TurboTax says Tax Liability is 83,857. Why ?

Is that the tax on line 16 or do you have any amounts on lines 17-23?  

 

Before filing,  You can preview the 1040 or print the whole return

https://ttlc.intuit.com/community/accessing/help/how-do-i-preview-my-turbotax-online-return-before-f...

triciasmyth28
New Member

Taxable Income is 375,943. MFJ. Per Form 1040 tax table, federal tax liability should be (375,943) x (.32) - 37,969 = 82,333. TurboTax says Tax Liability is 83,857. Why ?

Thank you. I had not included my Additional Medicare or Investment Taxes.

 

What is the theory/reasoning behind those additional taxes coming from Forms 8959 and 8960? Seems like a double ding! Especially the investment income, since that income is already including in the overall gross income taxed on line 15. 

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