Client is single. Taxable income is $21,150. ProSeries calculates tax as $2,351. I calculate by hand $2,347. Why is it off by $3.50?
$21,150 Taxable Income
- $9,525 x 10% = $952.50
$11,625 x 12% = $1,395.00
Total Tax $2,347.50
Best Answer Click here
As Lisa pointed out, if income is below $100,000 the tax is NOT calculated by direct math, it uses the Tax Tables.
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