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February 3, 2025
Question

My return Federal Tax amount doesn't match the IRS Tax schedule for Over 65 filing single. The taxable income is $78,921 and the Turbo Tax amount for line 16 is $11,874

  • February 3, 2025
  • 2 replies
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The 2024 Tax table for single filers is showing $12,417.

    2 replies

    February 3, 2025

    Did you receive capital gains or qualified dividends? These are taxed differently than ordinary income.

     

    They are generally taxed at a lower rate...

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    deesun9Author
    February 3, 2025

    Yes I had both. Thank you so much. 

    Employee
    February 3, 2025

    Everything is not on that same tax table.   For example, do you have any qualified dividends or capital gains?

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
    deesun9Author
    February 3, 2025

    Thank you. I did have both dividends and capital gains.