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New Member
posted Mar 6, 2025 11:15:46 AM

Why is my 1040X (Amended Return) not offering a Federal Refund after I have reduced Capital Gains from the original $9,000 to the correct $1,500?

Since my capital gains tax rate is 15%, I was expecting to see a refund of $1,125 (from multiplying the difference of 7,500 by .15). Thank you.

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1 Replies
Expert Alumni
Mar 6, 2025 11:25:36 AM

Difficult to know without seeing the tax return.

 

Does your Federal 1040 income tax return compute the capital gains on a Schedule D Tax Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet?

 

In TurboTax Premium Online, you may be able to review your forms after you have paid for the software.

 

  • View the entries down the left side of the screen at Tax Tools.
  • Select Print Center.
  • Select Print, save or preview this year's return.

See the IRS Schedule D Tax Worksheet page D-16.

 

See the Qualified Dividends and Capital Gain Tax Worksheet page 36.