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February 8, 2024
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Taxable income determined by TurboTax doesn't match IRS Publication 17

  • February 8, 2024
  • 1 reply
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When I compare my taxable income to the IRS Tax Table Turbotax determines I owe more tax than the IRS has written. Can somebody tell me why?

Best answer by DoninGA

Do you have a business with a net profit?  If so, you will owe Self-Employment taxes which are separate from federal income taxes.

1 reply

DoninGA
DoninGAAnswer
Employee
February 8, 2024

Do you have a business with a net profit?  If so, you will owe Self-Employment taxes which are separate from federal income taxes.

February 9, 2024

@DoninGA You were spot on correct. The difference equals my self employment tax. Thank you very much👌