Deductions & credits

There is also a problem with the tax calculation on Schedule AI when the tax is calculated using the Qualified Dividends & Capital Gains Tax Worksheet. The long-term capital gain/loss for each the first three periods (Capital Gains Tax Computation Smart Worksheet, line B Schedule D, line 15 columns a, b, and c) are not being inflated to an annualized amount resulting in a higher tax calculation. The qualified dividends are being inflated. A workaround is to input the inflated annualized capital gains in each of the periods. Let’s see if it gets corrected in the update.