Why is amount calculated by Turbotax on line 16 of 1040SR for the taxable income on line 15 is different than the amount I calculate from the IRS Tax Instructions?

[rodn86170]

The IRS Worksheet formula tax is nearly $400 higher than the tax calculated by the program.  Using same line 15 income to calculate, is there an error in the program?  Concerned about my already-filed return.

[DoninGA · Accepted solution]

Did you report any Qualified Dividends or Capital Gains on your tax return?  If so, the taxes calculated are not from the IRS tax tables but from the Qualified Dividends and Capital Gains Tax Worksheet.

Download a copy of your tax return to include all worksheets. The QD&CGT Worksheet will be included.

To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state. 

This will take you back to the 2021 online tax return.

Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets

[rodn86170]

PERFECT, that is exactly right, thanks so much.   I feel foolish for not seeing that.  I did go the IRS instructions for line 16, but failed to page through the standard deduction worksheet to  the remainder of the instructions.   It looked like the QD and CG were just rolled up into the taxable income in line 15 for application of the tax computation, but of course it is more complicated than that.  So Turbotax saved me a few hundred dollars there.  Thanks again!