- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Tentative Tax Calculation
Hi,
I use FEIE to reduce my AGI to ~$22k , $12k in qualified dividends from US stocks and the remaining $9800 is non-excluded foreign income.
I thought, the tax on my remaining foreign income would be $982 and I could use the non-excluded amount of foreign taxes paid, to reduced this amount. In addition, my qualified dividends would be taxed at 0%, since my taxable income is below the $39,375 threshold for long term capital gains.
Instead my taxable income is being taxed at 15% and in the tax summary page I see no credit...
Summary page:
AMT = 0
Total credits = 0
How is TurboTax calculating a tentative tax of ~$1400?
Thanks!
‎April 13, 2020
1:21 PM