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- Why Doesn't ProSeries Tax Calculations Match with Ordinary Tax Rates
Why Doesn't ProSeries Tax Calculations Match with Ordinary Tax Rates
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bevantaxservice
Level 3
05-12-2021
02:25 PM
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I have a return with a mix of pension, social security, qualified dividends, interest, and capital gains. No wages. I was going through a final review and it showed a taxable income of $214,043. Just for a double check I ran that amount through the ordinary 2020 tax brackets and I calculated a tax due of $33,271. Proseries is calculating a tax due of $45,424. Of that amount, $41,819 shows up on Qualified Dividends & Capital Gain Tax Wksht, ln 22. Ln 22 is populates from the "Tax Computation Wksht". I don't know where this is so not sure what numbers are involved.
I know there is something simple I must be missing here? I would have expected to total tax due to be less than the tax at ordinary rates or less than the $33,271 I calculated by hand.
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1 Comment 1
dbtaxsolutions
Level 4
03-05-2022
05:32 PM
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Just curious, did you ever figure out what happened?
