This will prompt it to generate your overall refund or owed amount. It does this by subtracting your tax deductions from your tax exemptions. The technology in the TaxCaster gives it the power to calculate the net of your taxable income. The TurboTax TaxCaster is Also an Income Tax Calculator It helps with lowering the federal amount owed. Tax exemptions are one of the specialties of the Turbotax TaxCaster.
Parents paying for educational expenses.Any jury pay that was paid to employers.However, these are the deductions missed by most: Paid Municipal, local, and state income taxes.I input 60K of QDIV for MFJ and it came up w/ 0 tax as expected.Taking over 305 different variables into consideration, the Turbotax TaxCaster will consider all your deductions when looking for the best tax solution for you. I think I did once put the qualified dividends on the long term cap gains line to get a better estimate.Ĭould be.I'm googling Taxcaster on a mac.maybe the left and right hands don't know what the other is doing. The iOS app has a line labeled “total dividend income”. The line is called QDIV.can't say for sure if I ever double-checked the calculation but the name was suggestive. So, if you enter a number in the dividend line, it treats them all as qualified? I just assumed it treated them all as ordinary and never used it with large enough dividends to investigate further.
interest/pensions/etc, the estimate will be low. Putting the "non-qualified" dividends as ordinary income elsewhere e.g. However it does not ask for total dividends, so unless you improvise by Anything different from 2018 to 2019?Īctually TC does have input for QDIV. So if you have qualified dividends, the TaxCaster estimate of liability could be high. And I do not think there is a place for qualified dividends.
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