DPH2023
New Member

Get your taxes done using TurboTax

I used Turbo tax to file my tax with long term capital gain.  My filing status is Married filing jointly.  My taxable income is less than $400,000.  Hower, it seems that Turbo tax calculated my long term tax as 20%.  Based on Long term tax scheduel below, it should be 15%.  I hope you can help me understant the inconsistency. Thanks,

 

DPH2023

2022 Long-Term Capital Gains Tax Rates

Tax Rate

0%15%20%
Filing StatusTaxable Income
SingleUp to $41,675$41,676 to $459,750Over $459,750
Head of householdUp to $55,800$55,801 to $488,500Over $488,500
Married filing jointlyUp to $83,350$83,351 to $517,200Over $517,200
Married filing separatelyUp to $41,675$41,676 to $258,600Over $258,600