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In deluxe, married filling jointly, taxable income $48666, turbotax calculated tax is $1758 IRS tax table site for 2017, it shows $6369 for taxes,what is correct?

Forum|Forum|7 years ago
June 1, 2019
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Best answer by pradszav4

Married, filling jointly, and Qualified Dividend and Capital gain, the tax is not calculated per IRS tax table. It is quite lower. Turbo Tax, calulate the tax per IRS rule. This is what I understood from going through Turbo Tax forum.

RachelW33

Did you have any capital gains or qualified dividends?

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M

mainattrack

Turbo tax is cheating us out our money

P

pradszav4AuthorAnswer

Married, filling jointly, and Qualified Dividend and Capital gain, the tax is not calculated per IRS tax table. It is quite lower. Turbo Tax, calulate the tax per IRS rule. This is what I understood from going through Turbo Tax forum.

J

jragone

Did you have Qualified Dividends and/or Capital Gain? If so Turbo will calculated using the correct rates for that type of income. You DO NOT want to use the tax tables if you have Dividends and capital gains.