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Author: ThyPeace Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121114  
Subject: Income down, taxes up, me confused. Date: 2/13/2012 11:19 AM
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Hi guys! I hope this is the right place to post this question.

I use TurboTax to calculate my taxes and it's always made sense to me before. This year's results are just confusing to me, though, and I'm not sure where to look for help.

The basic issue is that my taxes have gone up by quite a bit since last year, and I can't figure out why.

- Income is down by about $2,700, and down in each category (wages, interest/dividends, capital gains).
- Deductions overall down by less than $150 (State and local taxes up, real estate taxes up, mortgage interest slightly down, gifts to charity slightly down)
- AMT calculation is down by $300.

And yet my overall taxes owed has increased by $1,911. Is there a change to the tax code that I missed somewhere?

Thanks much!
ThyPeace, taxed in brain as well as in pocketbook.
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