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April 18, 2022
Question

TAXABLE INCOME

  • April 18, 2022
  • 1 reply
  • 0 views

For a taxable income of $2699, Turbo Tax came up with a tax of $239 for Married Filing Jointly

 

According to the 2021 Tax Table the tax should be $269

 

According to the 2021 Tax Rate Schedules the tax should be 10% or $269

 

Why is there a difference of $30?

1 reply

April 18, 2022

any qualified dividends or long-term capital gains?  if so you can't use the tax tables or tax rate schedule. there would be a qualified dividend and capital gain worksheet where the tax is calculated.