Don't see any capital gains worksheet showing long term capital gains tax rate of 15%. 1040 adds capital gains to income so paid too much tax?

[richclewis]

Data imported directly from 1099 forms. Turbotax checked box saying Schedule D not required on 1040.

[VolvoGirl · Accepted solution]

See the IRS worksheet on 1040 page 36 for how the tax is figured.  Turbo Tax uses the same worksheet.

https://www.irs.gov/pub/irs-pdf/i1040gi.pdf

Even though it shows up as income on the first page,if you have capital gains or qualified dividends the tax on line 16 is not taken from the tax table but is calculated separately from schedule D.  The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet.  It does not get filed with your return.    In the online version you need to save your return as a pdf file and include all worksheets to see it.

See this FAQ

https://ttlc.intuit.com/community/forms/help/form-1040-line-11-amount-is-less-than-standard-irs-tax-...

In the online version you need to save your return as a pdf file and include all worksheets to see it.

[Hal_Al]

Yes, your long term capital gains are added to your other income to determine your tax bracket and which of the capital gains tax rates (0%, 15%, or 20%) apply to you. Although most people pay 15%, it is not automatic. 

 

Capital gains tax rate 2025

The following rates and brackets apply to long-term capital gains on assets sold in 2025, which are reported on taxes filed in 2026.

Tax rate	Single	Married filing jointly	Married filing separately	Head of household
0%	$0 to $48,350	$0 to $96,700	$0 to $48,350	$0 to $64,750
15%	$48,351 to $533,400	$96,701 to $600,050	$48,350 to $300,000	$64,751 to $566,700
20%	$533,401 or more	$600,051 or more	$300,001 or more	$566,701 or more
Short-term capital gains are taxed as ordinary income according to federal income tax brackets.

[richclewis]

Thanks for the replys.  I was able to finally find the worksheet but it wasn't easy to figure out and the AI help was useless.  What I did was start an amended return of 2024 and that allowed me the option to see a pdf of all my tax forms and worksheets.  I'm an engineer and have played with computers since 1975 and it shouldn't have been that hard to find the worksheets.  If you're listening Intuit, make your software more user friendly.  I should be able to get ALL my data and worksheets even after I file under "Forms" or "Worksheets".  Wasted a lot of time on what should have been a simple operation.