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Why is Turbo Tax Calculating my 2022 Tentative Tax as $0 when it should be an actual value when using the Tax Computation Worksheet from the IRS?

Turbo Tax is calculating my 2022 Tentative Tax as $0 even though when I manually calculate it using the Tax Computation Worksheet from the IRS, it should be $20,584.  Consequently, Turbo Tax thinks I'm subject to AMT of $10,359.  I'm looking at my IRS Tax Transcript and it figured my Tentative Tax as $20,584 (which is consistent with my calculation) and AMT of $10,359 for a total of $30,942 even though my actual AMT should be $0, when using the AMT Worksheets with the correct Tentative Tax.  I realize I probably have to amend this return, and I can't figure out how to "force" Turbo Tax to use the correct Tentative Tax amount.  Any thoughts and assistance would be appreciated.  Thank you! 

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1 Reply
RobertB4444
Expert Alumni

Why is Turbo Tax Calculating my 2022 Tentative Tax as $0 when it should be an actual value when using the Tax Computation Worksheet from the IRS?

There are a lot of calculations that go into figuring out your total tax due which include the rates on capital gains and a bunch of other fun calculations.  

 

Without looking at your return there is no way to know why there is a $20,000 disparity between what you think your tax bill should be and what TurboTax is calculating.  If you have the TurboTax desktop program then you can go to forms view and see the worksheets with the calculations that the system is using to calculate your tax rate.  

 

I urge you to either consult a tax professional or switch to the desktop program before you send the IRS $20,000.  If all of your information is entered correctly the system is unlikely to have calculated incorrectly.

 

@jmiovech 

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