I use the Taxable Income from Form 1040 Line 15 and the tax computation algorithm on Page 77 of the IRS 1040 instructions at https://www.irs.gov/pub/irs-pdf/i1040gi.pdf. The answer I get for the tax I would owe is different from the answer calculated by TT. Why is that?
When you have capital gains and/or qualified dividends, your tax is calculated on the Qualified Dividends and Capital Gain Tax Worksheet, see here: IRS Schedule D Instructions.
If you are using the cd/download version of TurboTax, you can view this worksheet in Forms Mode. If you are using TurboTax Online, you will need to save your return as a pdf file and include all worksheets to view it.
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