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Get your taxes done using TurboTax
we can't see your return so review thw capital gain and qualified dividend worksheet.
its possible
if your capital gains and qualified dividends were taxed at 20% that would be about $3500
the nonqualified dividends could be tax at 37% about another $3500
other possibilities
1) your income might be high enough to subject you to the Net Investment Income Tax of 3.8%
2) does that $7,000 included state income taxes
3) higher income can reduce or eliminate certain deductions and credits
we have no access to your return to give you a more precise answer as to what's happening. What you could do is to review your return both before and after these numbers are entered to see what's happening.
‎April 14, 2025
12:33 PM