Capital Gains calculationable

[Tiggy]

I was to receive a refund of $3,000 prior to entering my capital gains.  After entering capital gains in the amount of $22,000, I now owe $1,500.  15% of $22,000 is not $4,000.  How can I check if the calculation is correct?

Thanks.

[RaifH]

The tax computation worksheets are not available online unless you have already paid for TurboTax. You can only verify that the tax amount is being derived from the qualified dividends and capital gain tax worksheet. 

The capital gains rate only applies to long-term capital gains. Were all the holdings for more than one year? You also may be subject to the net investment income tax. This is an additional tax of 3.8% on capital gains if your income is over $250,000 if you're married filing jointly, $125,000 if filing separately, or $200,000 for any other filing status.  You may find the Net investment income tax on Line 12 of Schedule 2. To preview your Form 1040:

1. Open or continue your return.
2. Select Tax Tools in the left menu (if you don't see this, select the menu icon in the upper-left corner).
3. With the Tax Tools menu open, you can then view your 1040 form: Select Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu
4. Scroll down until you see the Tax Smart Worksheet. This will tell you where your tax amount is line 16 comes from. If you scroll further down to Schedule 2, Line 12 you can see if you are paying any net investment income tax. 

[Mike9241]

those capital gains can push your other income into a higher tax pracket.