One possibility is that the income consisted of capital gain income (line 7 of form 1040) and qualified dividend income (line 3a). If the individual filed as a single filer, and the taxable income was less than $44,625 in 2023, the tax rate would be $0 on the portion of income represented by qualified dividends and net capital gain income. In that case, you would have taxable income but no income tax.
To view your form 1040 and schedule 1 to 3:
- Choose Tax Tools from your left menu bar in TurboTax Online
- Choose Tools
- Choose View Tax Summary
- See the Preview my 1040 option in the left menu bar and click on it
- Choose the Back option in the left menu bar when you are done
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