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IPA_Tom
New Member

Capital Gains Calculation

I have entered my data from a 1099-B, which shows short-term capital gains of $80 and long-term capital gains of $1000. When I finish this part of Wages & Income, TT shows capital gains total of $1800 with tax due of $1200. The software is no calculating the tax due correctly.

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1 Reply
JamesG1
Expert Alumni

Capital Gains Calculation

Does your tax return contain a Qualified Dividends and Capital Gain Tax Worksheet (page 36) or a Schedule D Tax Worksheet (page D-16) to compute your income tax?

 

Review the worksheet to see how your income tax was computed and how your short-term and long-term capital gains were taxed in the calculation.

 

In the online versions, you may view or print at Tax Tools / Print Center / Print, save or preview this year's return / Include government and TurboTax worksheets after you have paid for the software.

 

In the Desktop versions, one can look at the tax return by clicking FORMS, or by viewing the PDF through the Print Center.

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