Loading...

calculating US tax owed

Post date: 2020-07-13 07:53:37
Views: 8
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:
Answered: where is most of the html code ?
The Worst Drug is Convenience - who said it?
Food safety canning question....garnishes/decorations?
Answered: how can find this code in the source code(which got from git hub)?
Help me recall a play/musical about a crazed gunman and media sensation?
Helped friend A help his friend B, then B paid me unexpectedly
If a revolution killed the rich at COVID rates, how much $ would we get?
How to subvert isolation into peaceful solitude
App for Journaling with Topic Tags
Does wood creep over time?