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Investors & landlords
Thank you again. I figured out how to Preview my 1040 and other forms via Tax Tools. To answer your question, no, the amount in line 16 does NOT increase by 25%, it appears to be the correct 15% increased amount. It looks like I am losing a tax credit of some sort as a result of the capital gain, which is causing my "Amount owed" to increase by way over the amount of capital gain. Still researching...
March 1, 2021
7:25 AM