Simple 1040. Line 15 taxable income of 46,745. I manually calculate tax, it says 6,074. ProConnect is calculating 6,051 a $23 difference. Is this a problem?

[lrmcorp-mac-com]

This is not a rounding issue, from what I can see.  This is my first time using ProConnect and about to file first return.  I like to verify all the numbers to be exact.  Not sure why a discrepancy.  Any advice would be greatly appreciated.

[TaxGuyBill · Accepted solution]

Does your "simple" 1040 include capital gains or qualified dividends?  If so, did you factor that into your manual calculations?

If that does not apply, you need to give more details about what type(s) of income is on the tax return, as well as how you did your manual calculations.

[sjrcpa]

Did you check the Tax Table?

Any qualified dividends or LTCG?

[lrmcorp-mac-com]

Exactly the issue, stupid me.  I just figured it out and was able to manually calculate it exactly.  First timer using this software, and I'm super **bleep** about the numbers (can't help it).  I'm sure you can relate.

Thanks for the guidance and quick response!  Onward

[itonewbie]

Always review the tax calculation worksheet that ProConnect Tax produces.  That will tell you exactly how the tax on the return is computed.

[lrmcorp-mac-com]

yes, i did that, line by line upon printing out the whole return.  new to this software so it's a learning curve and always being diligent with the numbers as we all know.

thank-you!

[itonewbie]

NP, @lrmcorp-mac-com.  Feel free to come back if you have other questions.  Cheers!