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Is line 16 on the form 1040 correct. It does not match the IRA computations in the ProConnect tax program
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HUH?
Line 16 is Tax
Please give more information, as your question makes no sense.
Answers are easy. Questions are hard!
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I have a client that has a taxable income of $227,433 on line 15 of the 1040 form. This is a married couple with a joint form. When I go line 16 the tax number is $20,004. If you go the "2024 Tax Computation Worksheet—Line 16" worksheet pg 15 section B and follow the calculation the tax number = $40,664.
(227,443X0.24)- 13,915.00= 54,586-13,915= $40,671.
I am just trying to figure out if the computer is wrong or if I am making a mistake.
Thank you,
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Okay, IRA was a mistype in your first question. Now I am beginning to understand.
Is there anything on line 3a?
Is there anything on line 7?
When you Check Return, can you see Worksheets?
Methinks the error lies with you.
Answers are easy. Questions are hard!