Solved: The federal tax turbo tax quoted is not the same as the federal tables, why is it over $4,000 different?

The federal tax turbo tax quoted is not the same as the federal tables, why is it over $4,000 different?

According to the 1040 form our taxable income was $99,144. You calculated our taxes on that amount to be $12,811. The Federal tax table says it should be $16,259. Why is there over a $3,000 difference between what the federal says we should pay and what you say we should pay?

posted

The most probable reason for the difference is that you have qualified dividends and/or long-term capital gains which taxed at a lower rate than ordinary income.

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The most probable reason for the difference is that you have qualified dividends and/or long-term capital gains which taxed at a lower rate than ordinary income.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"