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arkvan
New Member

wrong tax liability amount shown on federal return

My federal return shows the correct Taxable Income but the Tax Liability shown is incorrect. What now?
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3 Replies
KeshaH
Expert Alumni

wrong tax liability amount shown on federal return

It's possible you've reported income that is taxed at a different rate than your ordinary tax rate, so using tax tables and tax rate schedules would not give you the correct tax liability.

 

Is your tax liability higher or lower than expected? What kind of income has been reported on the return (ex: capital gains, self employment income)?

arkvan
New Member

wrong tax liability amount shown on federal return

As soon as I submitted my question I remembered about capital gains taxation.  Thanks for your quick response. It is much appreciated.

KeshaH
Expert Alumni

wrong tax liability amount shown on federal return

You're welcome! I'm glad you got it figured out.

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