My filing status is MFJ. Turbo tax is reporting taxable income of ~$62000 but tax (12a and 12b) is calculated as 933. The tax table for 62000 MFJ is 7055. When I print the forms, I don't see anything that can account for this discrepancy.
When I review the details on why I'm getting the refund, the report refers to a Blended Tax Rate of 1.5%; however, it does not indicate how this rate was calculated. I reported W2 earnings, Dividends, capital gains, and self employment income that total ~62000 after the standard deduction. What part of the filing shows why 1.5% is used?
did you have substantial qualified diviends (line 3) and or long term capital gains (schedule D line 15)?
there are special rates for this kind of income as low as 0%
we can't see your return but look for capital gain/qualifying dividend worksheet.
if not consult support.