Where can I find Tax Calculation in TurboTax Premier Software for 2023?

[johndebt]

Where can I find Tax Calculation in TurboTax Premier Software for 2023?

[VolvoGirl]

There are like 7 different ways to calculate the tax.
It depends what kind of income you have. Even though the full amount shows up in the total income on the 1040 line 7, if you have capital gains or qualified dividends the tax is not taken from the tax table but is calculated separately from Schedule D. The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet. It does not get filed with your return. In the online version you need to save your return as a pdf file and include all the worksheets to see it.

For the Desktop version you can switch to Forms Mode and open the worksheet to see it. Click Forms in the upper right (upper left for Mac) and look through the list and open the Qualified Dividends and Capital Gain Tax Worksheet. And you will need to use this IRS worksheet on page 15.
https://www.irs.gov/pub/irs-pdf/i1040tt.pdf

[rjs]

It's not clear whether you are using TurboTax Online or the CD/Download TurboTax software. The tag below your question says TurboTax Online. But you say you are using Premier, which is a CD/Download version. Or did you mean Premium, which is an Online version?

As VolvoGirl said, there are 7 different methods that can be used to calculate your tax, depending on what is in your tax return.

If you are using the CD/Download software, go to forms mode and open the Form 1040 or Form 1040-SR Worksheet. Between lines 15 and 16 there is a Tax Smart Worksheet with 7 checkboxes. The box that is checked shows you which of the 7 possible methods was used to calculate your tax. Then you can look for the appropriate worksheet for that method. But if the Tax Table or Tax Computation Worksheet was used, there is no worksheet. Those are simple standardized methods that do not require a worksheet.

If you are using TurboTax Online I don't think there is any way to see the Tax Smart Worksheet.