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1040 Line 16 - TurboTax accuracy?

Forum|Forum|3 years ago
April 12, 2023
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Hi! The tax that TurboTax enters on Line 16 of my Form 1040 doesn't match what I come up with when I use the IRS 2022 Tax Computation Worksheet for Line 16. Specifically, TurboTax enters $25,804 on Line 16, but when I use the formula for my income level shown in the 2022 Tax Computation Worksheet, Section B ("Married filing jointly", which is my status), I get $25,826.80. A difference of $22.80. I can't figure out why. Does anyone have an idea why this would be? Should I be concerned about this, or am I just missing something? Thanks very much to anyone who can help me!

TurboTax Home & Biz Windows

Best answer by ThomasM125

One possiblity is that you have some capital gain income or qualifed dividends which would require a special calculation. If so you will see a qualified dividends and capital gain tax worksheet when you print your return that will show you how the tax is calculated.

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ThomasM125Answer

One possiblity is that you have some capital gain income or qualifed dividends which would require a special calculation. If so you will see a qualified dividends and capital gain tax worksheet when you print your return that will show you how the tax is calculated.

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T-W-SAuthor

Thanks so much ThomasM125! I checked my return, and sure enough: the qualified dividends and capital gain tax worksheet clears up this mystery. Thanks again!