Why does my 2018 turbo tax return shows tax for single person on $29,732 taxable income to be $2045 but 2018 1040 IRS tax table shows tax to be $3377?

[ppeyton]

Turbo Tax shows tax due on $29,732 taxable income is $2045 for 2018 but 2018 1040 tax table shows tax on $29,732 to be $3377. Why the big difference & which is correct so I can complete my return?

[Ashby · Accepted solution]

Most likely, there is some type of credit on your return in the lines below your taxable income on the 1040. I have attached an image of the section of the 1040 where credits are deducted.

Also, is all your income wage income. Capital gain/investment income is not taxed the same as wage income.