Question

How did you calculate my 2017 tax? Line 43 of my 1040 says 149,719 and line 44 says 24,864, but this tax amount is lower than I get when I use the IRS tax tables for2017?

Forum|Forum|7 years ago
June 3, 2019
2 replies
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Employee

Did you have any long term capital gains? Did you have any qualified dividends? If the answer to either or both questions is "Yes" then that income is taxed a lower tax rates.

VolvoGirl

Employee

Even though the full amount shows up as income on the 1040 as income, if you have capital gains or qualified dividends the tax on line 11 is not taken from the tax table but is calculated separately from schedule D. The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet. It does not get filed with your return. In the online version you need to save your return as a pdf file and include all worksheets to see it.

https://ttlc.intuit.com/questions/1899683-form-1040-line-44-amount-is-less-than-standard-irs-tax-table