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kcprasad
Returning Member

Calculation of taxes on dividends and Capital gains

On my 2022 return, the taxable income is interest, dividends and capital gains. Schedule D worksheet is calculating tax of $1250. This information needs to be entered as tax on Line 16 of 1040. But there is an error in the program, Tax on 1040 line 16 is 0. the program says no tax due. I think there is an error in the program. How to correct this error

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3 Replies
JamesG1
Expert Alumni

Calculation of taxes on dividends and Capital gains

On the Schedule D Tax Worksheet (page D-16), on what line is the tax of $1,250 calculated?

 

What values are reflected on lines 31, 34, 40, 43 and 44?  Please clarify.

 

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@kcprasad 

 

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kcprasad
Returning Member

Calculation of taxes on dividends and Capital gains

Line 31, 34, 40 and 43 are 0. Line 44 calculates $1280. Line 45 is1280, Line 46 is 3476. Line 47 is 1280. This amount on line 47 should have gone to line 16 of 1040. I think program is taking the number from line 31. I am inferring this from  2021 return. That return used the value calculated on line 31.

kcprasad
Returning Member

Calculation of taxes on dividends and Capital gains

I got my answers on my other post which cleared the concern. Thanks

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