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## Proseries income tax calculation is Off

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Level 3

2019 MFJ taxable is \$166,414.  Proseries says federal tax is \$27,288.

But calculating myself (based on tax brackets) I come up with \$28,327.

The Fiirst \$19,400 is taxed at 10%= \$1,940

\$59,549 taxed at 12% = \$7,145.88

\$87,463 taxed at 22%= \$19,241.86

Why is proseries calculation different than mine?  What am I missing?

1 Solution

Accepted Solutions
Highlighted
Level 15

Look for the Schedule D Tax Worksheet in the list of forms on the left....see if that clears it up for you.

If you have LT Cap Gains you cant use the Tax Tables.

â™ªâ™«â€¢*Â¨*â€¢.Â¸Â¸â™¥Lisaâ™¥Â¸Â¸.â€¢*Â¨*â€¢â™«â™ª
5 Replies 5
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Level 15
qualified dividends?
LT capital gain?

ex-AllStar
Highlighted
Level 3

they have \$15K in long term gains

Highlighted
Level 15

Look for the Schedule D Tax Worksheet in the list of forms on the left....see if that clears it up for you.

If you have LT Cap Gains you cant use the Tax Tables.

â™ªâ™«â€¢*Â¨*â€¢.Â¸Â¸â™¥Lisaâ™¥Â¸Â¸.â€¢*Â¨*â€¢â™«â™ª
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Level 3

thank you. thank you. thank you. thank you!

Highlighted
Level 15

BINGO

ex-AllStar