Turbo tax calculated my taxable income, but says I don't owe taxes. According to the tax tables, I do. Why? Which is correct?
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If you reported Qualified Dividends or Capital Gains on your tax return, the tax tables are not used.
The Qualified Dividends and Capitals Gains Tax Worksheet is used instead - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#pag=37
Or the Schedule D Tax Worksheet - https://www.irs.gov/pub/irs-pdf/i1040sd.pdf#page=16
If you reported Qualified Dividends or Capital Gains on your tax return, the tax tables are not used.
The Qualified Dividends and Capitals Gains Tax Worksheet is used instead - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#pag=37
Or the Schedule D Tax Worksheet - https://www.irs.gov/pub/irs-pdf/i1040sd.pdf#page=16
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