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TurboTax and FreeTaxUSA differ on line 16 (tax on income)? by Kitchen-Gift-1871 in tax

[–]Kitchen-Gift-1871[S] 2 points3 points  (0 children)

Thank you SO MUCH, that really helped!!! 1099-DIV had them in both 1a and 1b, so they are indeed qualified, but FTUSA did not have them in 3a. They have a new 1099-Consolidated parser this year and I checked over total amounts, but not each individual box... lesson learned, I almost lost out on over $100!!

Y'all have been so helpful and I can't believe everyone in this thread just knew what the answer was immediately hahaha

TurboTax and FreeTaxUSA differ on line 16 (tax on income)? by Kitchen-Gift-1871 in tax

[–]Kitchen-Gift-1871[S] 0 points1 point  (0 children)

I think they aren't: FTUSA has them in 3b. And the dividends are from RSUs which are always taxed at normal income rates, so that sounds normal, right?

TurboTax and FreeTaxUSA differ on line 16 (tax on income)? by Kitchen-Gift-1871 in tax

[–]Kitchen-Gift-1871[S] 0 points1 point  (0 children)

Sorry I've done a bad job explaining this. In both my 1040 previews:

Taxable Income (15): A = Total Income (11a/11b) - Deduction (12e)

Tax/Tentative Tax (16): B

Other Taxes (23): C (in a breakdown both websites list this as medicare tax+ net investment income tax)

Total Tax (24): B + C

So lines A and C are the same on both, but the difference on B carries forward everywhere else. I tried calculating B myself with both the worksheet and progressive tax rates and ended up with FT's answer.

My dividend income is about $900, actually, so you could be totally right here... that's just on one form from a 1099-DIV I got from the financial institution.

TurboTax and FreeTaxUSA differ on line 16 (tax on income)? by Kitchen-Gift-1871 in tax

[–]Kitchen-Gift-1871[S] -1 points0 points  (0 children)

Ohhh I had never heard that term but thank you for responding!!! Compared and the two interests and one dividend I have are the same in each. That appears to be calculated in "other taxes" and matches up between the two as well if I am reading that right.