Question

CA state taxable income and tax liability discrepancy?

Forum|Forum|7 years ago
June 4, 2019
1 reply
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In TT2018 premier, my CA state taxable income is $104,471 but the tax liability is $2,595 and total payment+credit is $11,395. We are MFJ with 4 dep. Is this correct? I thought it should be higher? Isn't taxable income already after deductions and exemptions?

I have attached the screenshots of federal and CA state details in TT2018.

ItsDeductible Online

T

TerryA

Employee

That Calif "Total tax" amount is probably the computed tax less nonrefundable credits such as Child and Depended Care Expenses Credit, plus many possible other ones. I think it's showing you Form 540 line 64. You should look at Form 540 for the real scoop.