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simple tax rate question

Forum|Forum|3 years ago
January 31, 2023
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So I'm retired and have a very simple tax calculation and end up with a taxable income of $5,550.00. Filing status is married filing jointly. Turbotax calculates my tax due as $558.00 NOT $555.00?? Why the extra $3.00? Should be just a straight 10%, right? Am I missing something? Already filed and they were accepted but I just saw this.

Best answer by MinhT1

The tax is taken from IRS tax tables which gives tax for each tranche of income of $50.

The tax tables give a tax of $558 for incomes of $5,550 and less than $5,600 (see page 4 of this IRS document).

MinhT1Answer

The tax is taken from IRS tax tables which gives tax for each tranche of income of $50.

The tax tables give a tax of $558 for incomes of $5,550 and less than $5,600 (see page 4 of this IRS document).

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KentuckyEdAuthor

Thank you very much.