Ronstar
Moderator Emeritus
I had my taxes done by a cpa. And I ran a cross check through Taxcaster.
Neither match what I calculate for tax using IRS rules
Married filing jointly - did a roth conversion - ended up with a taxable income of $127,251
IRS says tax is:
10% of first $19050
$1905 + 12% over $19050
$8907 + 22% over $77400
$28179 + 24% over $165000
etc
I do the math and come up with a tax of $19874
Taxcaster has tax at $19354
CPA has tax at $19408
So cpa and Taxcaster are close - within about $50, but math from the IRS rules comes in about $500 more.
I know it's early am, but I've calculated this a dozen times and can't figure out why the difference.
Why is there such a difference?
Neither match what I calculate for tax using IRS rules
Married filing jointly - did a roth conversion - ended up with a taxable income of $127,251
IRS says tax is:
10% of first $19050
$1905 + 12% over $19050
$8907 + 22% over $77400
$28179 + 24% over $165000
etc
I do the math and come up with a tax of $19874
Taxcaster has tax at $19354
CPA has tax at $19408
So cpa and Taxcaster are close - within about $50, but math from the IRS rules comes in about $500 more.
I know it's early am, but I've calculated this a dozen times and can't figure out why the difference.
Why is there such a difference?