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sbrown2
New Member

Why isn't TurboTax changing the Tax amount Line 16 after changes were made to my return?

It was necessary for me to determine the difference in refund of my tax return before and after including the sale of my Dad's home (capital gains).  The amount listed for Tax, Line 16 is not changing although Taxable Income, Line 15 has increased.
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1 Reply
MarilynG1
Expert Alumni

Why isn't TurboTax changing the Tax amount Line 16 after changes were made to my return?

If you inherited a home from your dad, then sold it, click this link for info on reporting the Sale of an Inherited Home.

 

If you had a Capital Gain on the sale, this would be reported on Schedule D and would increase your taxable income, as you mentioned.

 

It is possible that the amount of your Capital Gain is being taxed at 0%, so your tax amount did not increase. 

 

Click this link for more info on How Capital Gains are Taxed

 

 

 

 

 

 

 

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