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June 1, 2019
Question

Turbotax states that the tax liability on Total Taxable Income of $74,921 is $12,287, however, the IRS 2018 Tax Table for (Married Filing Separately) is $12,423. Why?

  • June 1, 2019
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1 reply

Employee
June 1, 2019

Most likely you have qualified dividends or long-term capital gains, which are taxed at a lower rate.  The tax tables do not apply.