lacerte vs turbotax vs 2021 tax computation worksheet; same taxable income; 3 different tax amounts

Forum|Forum|3 years ago
October 16, 2022
2 replies
6 views

218.2K taxable income (so tax tables are not a factor) and focused on tax before credits (so credits are obviously not a factor). Does anyone have insight into why there would be three different amounts?

Lacerte Tax

This topic has been closed for replies.

Best answer by MDenHartog

Thx for your time. Taxable income is taxable income w/qualified vs unqualified already accounted for. I was thinking someone from Lacerte could perhaps shed some technical insight into how tax is calculated from taxable income and why the result would be different than either TurboTax or the official IRS 2021 Tax Computation Worksheet

T

TaxGuyBill

Level 15

Most likely something is likely entered differently between the programs. For example, if one had Qualified Dividends and the other had non-qualified Dividends, the "taxable income" would be the same but the tax would be different.

M

MDenHartogAuthorAnswer

Level 2

Thx for your time. Taxable income is taxable income w/qualified vs unqualified already accounted for. I was thinking someone from Lacerte could perhaps shed some technical insight into how tax is calculated from taxable income and why the result would be different than either TurboTax or the official IRS 2021 Tax Computation Worksheet

George4Tacks

Level 15

In this forum you are asking users. If you want an answer here, or if you want to contact Lacerte Support, you need to give the whole picture. There are sooooooo many places that could cause difference this is just a skeet shooting contest now. If you would like to see some target practice, give use the full layout, such as a copy of the 1040.

Answers are easy. Questions are hard!

IRonMaN

Level 15

Because two (or maybe even three) of the calculations are incorrect?

Slava Ukraini!

Sign up

Login with SSO

Let's get you signed in

Login with SSO