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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%?

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2 Replies
KrisD15
Employee Tax Expert

Capital Gains on Turbotax Premier Calculating Incorrectly?

The additional income may have affected/ lowered a credit.

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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

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