What if I find discrepancies in the Calculations done by TurboTax Software ?

[JulieS]

Can you clarify the discrepancies? If you provide details, we can try to determine if this is an error, rounding, or an actual calculation problem. 

[rskothari55]

Hi Jullie,

Thanks for your response.

Here are the details. 

TurboTax Software used : 2021 Desktop Version
Tax Software updated on : 3/12/2022

Tax Prepared : Federal Income Tax 2021

Filing Status : MFJ

Ref Form 2021 : 1040

Line 15 Taxable Income : 102,075.00
Line 3a Qualified Dividends : 5,471.00

Amount to be Taxed using IRS Tax Table for 2021 = (102,075 Minus 5,471 = 96,604.00)

Tax Calculations as below :
1) 19,900 @ 10% = 1,990
2) 61,150 @ 12% = 7,338
3) 15,554 @ 22% = 3,422
4)   5,471 @ 15% =     821

Total Tax(1+2+3+4) above = 13,571.00

Tax Calculated by TurboTax on line 16 = 13,576.

Hence there is a discrepancy of $5.00

Kindly let me know if I need to provide any other details.

Regards

[VolvoGirl]

You just can't subtract the qualified dividends.  so it was probably a coincidence it came out that close.

If you have capital gains or qualified dividends the tax is not taken from the tax table but is calculated separately from schedule D.  The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet.  It does not get filed with your return.

In the online version you need to save your return as a pdf file and include all worksheets to see it.

For the Desktop version you can switch to Forms Mode and open the worksheet to see it.  Click Forms in the upper right (upper left for Mac) and look through the list and open the Qualified Dividends and Capital Gain Tax Worksheet.

[rskothari55]

Hi VolvoGirl,

Thanks for your prompt response.  

I have a Capital Loss of -4,181 ! 

I checked everything possible in FORMS(Desktop Version) and I do not find any Worksheet which can show actual calculations for the Line 16 (Total Tax). 

If you are from TorboTax we can talk over the phone. 

You can get my details from my TurboTax Userid. 

Regards

[VolvoGirl]

No I don't work for Turbo Tax.  Most of us are just other users volunteering here.  Look again in Forms.  The tax worksheet should be there.  Here is the IRS worksheet.  On page 36

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf 

[VolvoGirl · Accepted solution]

I found a screen shot from last year.  It is in Forms here...

[rskothari55]

Hi VolvoGirl,

Thanks a lot for your help much appreciated. 

I will check.

Regards