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Retirement tax questions
You are probably inappropriately including qualified dividends or long-term capital gains in the amount that you are looking up in the tax table. These items of income are taxed at a lower rate and the tax liability must be calculated using the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet. Given the amount of taxable income you have, these items are taxed at 0%. The result you got is the expected result if your taxable income included $4,965 of qualified dividends or long-term capital gains.
‎January 1, 2021
10:59 AM