turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

yilanwer12
Returning Member

questions for capital gain tax is double charge from my individual tax and capital gain tax?

I have paid capital gain tax through my individual tax , Do I need to pay additional capital gain tax based 0%, 15%,25%? What form do I fill up to pay this additional tax?

Do both short term and long term  need to pay additional capital gain tax according to 0%, 15%, 25%?

 

Thanks,

 

Doris 

 

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies

questions for capital gain tax is double charge from my individual tax and capital gain tax?

No.  It is part of your regular tax.  

 

Even though it shows up as income on the first page,  if you have capital gains or qualified dividends the tax on line 12a is not taken from the tax table but is calculated separately from schedule D.  The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet.  It does not get filed with your return.  In the online version you need to save your return as a pdf file and include all worksheets to see it.

 

For the Desktop version you can switch to Forms Mode and open the worksheet to see it.  Click Forms in the upper right (upper left for Mac) and look through the list and open the Qualified Dividends and Capital Gain Tax Worksheet.

yilanwer12
Returning Member

questions for capital gain tax is double charge from my individual tax and capital gain tax?

Thanks for your reply 

 

However, I see that tubtox put long-term and short-term gain into Line 6 of form 1040 to calculate total taxable tax. 

6 Capital gain or (loss). Attach Schedule D if required. If not required, check here

questions for capital gain tax is double charge from my individual tax and capital gain tax?

Yes?  I said that.  The tax on line 12 is taken from Schedule D.  Or actually from the Capital Gains Tax worksheet.  

yilanwer12
Returning Member

questions for capital gain tax is double charge from my individual tax and capital gain tax?

Do both short term and long term  need to pay additional capital gain tax according to 0%, 15%, 25%?

 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies