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.

Capital Gains on Turbotax Premier Calculating Incorrectly?

I have a question on how the software calculates capital gains. I had a refund of $5,519 showing on the software. Then I entered my long term capital gains of appx $23,000 and it decreased my refund to $3,625. I should have been taxed at 0% because our income was not above a certain threshold. I went to the capital gains calculator and it does state we were taxed at 0% for the long term gains in the software. Why would it decrease our refund if we were taxed at 0%?

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.

2 Replies
KrisD15
Expert Alumni

Capital Gains on Turbotax Premier Calculating Incorrectly?

The additional income may have affected/ lowered a credit.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Capital Gains on Turbotax Premier Calculating Incorrectly?

Thanks... I looked at my tax summary on the software and it looks to me that it's affecting my taxable income...$57,000 appx without the gain and $92,000 with the gain. Plus it added appx $400 to additional tax line. Part of our income was social security so I think it's changing how much of that is taxable. Thank you

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question