What to do when turbo tax is looking at my taxable income line 15, and using the incorrect dollar amount on the under 100K tax table for the amount of tax for 2021?

joeymitch2 · ‎February 15, 2022

DoninGA · ‎February 15, 2022

Do you have any qualified dividends or capital gains reported on your tax return? If so, the tax tables are not used. The Qualified Dividends and Capital Gains Tax Worksheet is used to calculate the taxes on the taxable income.

IRS Form 1040 Instructions page 36 - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=36

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DoninGA · ‎February 15, 2022

Do you have any qualified dividends or capital gains reported on your tax return? If so, the tax tables are not used. The Qualified Dividends and Capital Gains Tax Worksheet is used to calculate the taxes on the taxable income.

IRS Form 1040 Instructions page 36 - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=36

joeymitch2 · ‎February 15, 2022

That was it. Yes, The qualified dividends worksheet calculation brought it to the amount Turbo Tax stated. Thank you for the direction! 😀

xmasbaby0 · ‎February 15, 2022

it is not always from the same tax table. Do you have any qualified dividends, capital gains...etc?

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What to do when turbo tax is looking at my taxable income line 15, and using the incorrect dollar amount on the under 100K tax table for the amount of tax for 2021?