calculating US tax owed

Post date: 2020-07-13 07:53:37
Views: 307
TurboTax and the official US Tax Tables and instructions from the 1040 are giving me two different numbers from the same adjusted gross income number. What gives?

I am trying to DIY my taxes with free fillable forms; my situation is not overly complex. I have my AGI, TurboTax gives the same AGI from the same inputs so everything checks out up to line 11 of the 1040. Then you need to enter tax owed; the official instructions point you to the tax tables, but TurboTax also provides a line item "explanation of refund" and their tax owed number does not match the tax tables, it's lower. Why? Is there some more favorable but still legal way of calculating tax owed other than from the tables using the tax brackets for exact marginal dollars? It doesn't make any sense otherwise. The numbers are close but not that close, within $50
Number of Comments
Please click Here to read the full story.
 
Other Top and Latest Questions:
Trump to press Zelenskyy for energy truce, says Russia has ‘lost control’ of oil due to Ukraine war
Trapped in minimum payments? These products can help you get out of credit card debt
Flight disruptions ease at Newark, Philadelphia airports following equipment outage
Oil little changed after Trump tells UN that Iran will make a deal after midterm elections
Book: Wide Sargasso Sea
Lanterns: Bad Optics
Movie: De Gaulle: Resistance (2026)
Movie: Resident Evil: Apocalypse
Good hand-sewing projects for a not-very-crafty ten year old?
Trump slams Iran and Cuba, defends AI growth and recounts record in UN speech