In 2018 my client's adjusted gross income was $211,755, his taxable income was $190,619 and his taxes for that year where $25,923.
In 2019 the same client's adjusted gross income was $229,823, his taxable was $207,929 and his taxes are $47,130 a $21,250 increase over 2018.
I need to know what cause the difference.
Thanks
This discussion has been locked. New comments cannot be posted on this discussion anymore. Start a new discussion
Look at the 1040 and the numbered Schedules and compare the two years. Most likely some credit changed substantially or the higher year had more Self Employment income.
A large chunk of long term capital gains in 2018?
Its just a guessing game from here, you need to compare both returns side by side and see where the difference is.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.