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Line 15 of my client's child's return is showing tax of $1,744 on line 14 which is $1,100. Obviously wrong. Is anyone else having this issue?
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The solution to this problem has already been posted in other posts on this forum. Just do a search and you will find it and see what is going on
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"tax of $1,744 on line 14 which is $1,100" doesnt make much sense on its own.
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The last I saw, the Kiddie Tax was screwed up and you need to open with some worksheet about Schedule D (maybe Capital Gains or Qualified Dividends, even if that does NOT apply to the kid) and the calculation magically fixes itself.
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The solution to this problem has already been posted in other posts on this forum. Just do a search and you will find it and see what is going on