I am in the middle of a tax bracket (example: 24%).
When I enter Interest income, let's say $100. I would expect the "Federal Refund" counter box in the software to drop by $24. 24% of income addition via interest ($100).
That number is dropping by a much higher percentage than my tax bracket. Why?
Is there additional tax applied to interest income beyond the tax bracket for higher tax brackets?
thanks
You may be liable for the 3.8% NIIT tax.
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