My TT Deluxe desktop software 2025 Taxable Income shows $80,192 and TT calculated federal taxes as $12,785 as a retired, single filer. According to IRS tax tables, I should owe $12,553 since taxable income is between $80,50 - $80,200. Any idea why TT shows I should pay $232 more than the tables?
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Does Line 38 on your Form 1040 show an Estimated tax penalty?
Yes, Line 38 on my Form 1040 shows an Estimated tax penalty. Thank you very much! I need to have more federal taxes taken out so it doesn't happen next year. Have a great day and thanks again!
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