calculating US tax owed

Post date: 2020-07-13 07:53:37
Views: 263
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:
Wall Street and Main Street face off next week with Nvidia, consumer earnings. Here's what's ahead 
FDA shuffles top drug, biologics leaders in latest shakeup
Special Event: Eurovision 2026: The Grand Final
Special Event: Live Stream: Semifinal 2 (2026 Eurovision Song Contest)
The Bear: Gary
Widow's Bay: Beach Reads
Movie: Mortal Kombat II
Book: Don Quixote, chapter 3
For better or worse, investors are living through Trump’s stock market. Here's why
Creator content made the main stage at TV's 'upfront' pitches — and not just for YouTube