TT calculated tax appears very wrong - how can I fix it?

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?

680

Not applicable

Apr 10, 2020 1:23:33 PM

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.

Level 1

Apr 10, 2020 2:50:51 PM

Yes, I did and when I printed out the associated worksheets, I can see how they impacted the total tax.

Thanks.

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TT calculated tax appears very wrong - how can I fix it?