cfaprst
New Member

Does TurboTax correctly calculate tax using Qualified Dividends & Capital Gains Tax Worksheet together with Foreign Earned Income Tax Worksheet?

I am a US citizen living and working abroad, my salary is excluded (Form 2555-EZ), so my taxable income consists only of my investment income, most of which is qualified dividends and capital gains.  In have always done my returns by hand, but I am trying TT this year.  Except for one year, when I sold a lot of investments to make a down payment on a house, I have not had to pay any US tax. 

This year my taxable income, after deductions and exemptions, is $924.  When I do the calculations on the worksheets by hand, the resulting tax is 0, but TT is calculating $137.

Has anyone else had a problem with these calculations?