Turbo tax is calculating my federal tax die incorrectly. Filing status is single. Taxable income is 74,590. Turbo tax says my federal tax is 16,927??

[kylet97]

I calculate that the tax should be 11,463. Why is turbo tax wrong?

[ThomasM125]

There can be many facets to calculating your federal income tax. It can be affected by different types of income such as self-employment income, premium tax credit repayments, alternative minimum taxes, net investment taxes well as tax penalties. It can be much more involved than simply looking up your tax in a table based on your taxable income.

I suggest you look your form 1040 and schedules 1 to 3 to learn more about the different types of income listed on your tax return, as well as the different types of taxes that may be listed. You can also look at your Tax Smart Worksheet after you pay for your program to learn more about how your tax is calculated:

To view your form 1040 and schedule 1 to 3:

1. Choose Tax Tools from your left menu bar in TurboTax Online while working in your program
2. Choose Tools
3. Choose View Tax Summary
4. See the Preview my 1040 option in the left menu bar and click on it
5. Choose the Back option in the left menu bar when you are done