I found the tax on amount on line 7 ($28,246) from the qual. div. worksheet in the tax tables for filing jointly of $3,006 but I tried calculating the tax from the tax rate schedules and came up with $2,909, approx. $100 less. Shouldn’t I be able to calculate from the tax rate schedules and get the same amount as from the tax tables?
You should be closer than that although perhaps not exactly the same since
the tables have an input range of $50 of income for the same tax.
I got3008.5 using the schedule which is pretty close to the 3006 from the table. I got the formula from the reference room on this site:
for the income you gave: Tax = 1905 + 0.12 (Income – 19050)
To calculate your effective tax rate, take the total amount of tax you paid and divide that number by your taxable income. Your effective tax rate will be much lower than the rate from your tax bracket.