TurboTax says my taxable income is $56004, & I owe $7389 in Federal Tax. But 2017 Tax table (Married Joint) says I owe $7471! No form 8814/4972 - why the difference?

annie4 · ‎June 6, 2019

SteamTrain · ‎June 6, 2019

Tax tables are not always used. Qualified dividends and cap gains on 1099-DIV, or 1099-B long-term cap gains are taxed at a lower rate...some at 0%

Look at the form 1040 in Forms Mode to see what tax calc procedure is used (box above line 44)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

SteamTrain · ‎June 6, 2019

Tax tables are not always used. Qualified dividends and cap gains on 1099-DIV, or 1099-B long-term cap gains are taxed at a lower rate...some at 0%

Look at the form 1040 in Forms Mode to see what tax calc procedure is used (box above line 44)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

TurboTax says my taxable income is $56004, &amp; I owe $7389 in Federal Tax. But 2017 Tax table (Married Joint) says I owe $7471! No form 8814/4972 - why the difference?