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Level 15
Level 15

Get your taxes done using TurboTax

There isn't one worksheet for the tax calculation. There are 7 different methods that can be used to calculate the tax on Form 1040 line 16, depending on what types of income you have and other things in your tax return. There are different worksheets for most of the 7 methods. The IRS instructions for Form 1040 line 16 explain the conditions for determining which of the 7 methods to use, starting in the right column on page 33 of the 2024 Instructions for Form 1040.


Since you are using the desktop TurboTax software, you can see which of the 7 methods TurboTax used. Go to form mode and open the "Form 1040 or Form 1040-SR Worksheet." In the first section, between lines 15 and 16, there is a box called the Tax Smart Worksheet. It has 7 checkboxes. The box that is checked shows you which method TurboTax used.


Since you have long-term capital gain it is probably using the Qualified Dividends and Capital Gain Tax Worksheet, or possibly the Schedule D Tax Worksheet. You can see either of those in forms mode.


Self-employment tax is not included in line 16. That gets added in later, on line 23, which comes from Schedule 2.