calculating US tax owed

Post date: 2020-07-13 07:53:37
Views: 230
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:
India discussing age-based restrictions with social media firms, top minister says
Danaher to buy Masimo in $9.9 billion deal in diagnostics push
Bilt Palladium Card review: A premium option for earning points on rent, mortgage payments
Trump trade adviser Navarro says administration may force data center builders like Meta to 'internalize' costs
Answered: how to delete space between menu and main content?
Abbott Elementary: Mall Part 2: Questions and Concerns
Movie: Honey Bunch
Movie: Mambo Man
Netflix grants Warner Bros. Discovery 7-day waiver to reopen deal talks with Paramount Skydance
Rev. Jesse Jackson, civil rights leader and former presidential candidate, dies at 84