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rockort1
New Member

What is the tax on 252,882 income? IRS tax table computes to 48,850.68. Turbo tax computes to 48,550.00. Which is correct?

Interesting that the difference is the cash charity amount max of 300, which I'm claiming.
2 Replies
fanfare
Level 15

What is the tax on 252,882 income? IRS tax table computes to 48,850.68. Turbo tax computes to 48,550.00. Which is correct?

Most persons don't pay according to the Tax Table.

TurboTax knows the rules; that's what you're paying for.

Mike9241
Level 6

What is the tax on 252,882 income? IRS tax table computes to 48,850.68. Turbo tax computes to 48,550.00. Which is correct?

any qualified dividends or net long-term capital gains?  if so your taxes are computed strictly from the tax tables.  there is also the possibility of tax credits. the $300 charity deduction is not a credit. 

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