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timflo
New Member

My long-term capital gains are not nearly enough to make the threshold to be taxable gains. Why is TurboTax putting them into my income, which IS taxed?

 
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Accepted Solutions
ThomasM125
Employee Tax Expert
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

My long-term capital gains are not nearly enough to make the threshold to be taxable gains. Why is TurboTax putting them into my income, which IS taxed?

The gains will be reported as such on your tax return, but the tax on them will be adjusted to reflect the capital gain tax rates, which may be $0 as you mention. You will have to look on the Qualified Dividends and Capital Gain Tax worksheet to see how your tax is calculated. You will see the worksheet when you pay for your TurboTax program.

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1 Reply
ThomasM125
Employee Tax Expert
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

My long-term capital gains are not nearly enough to make the threshold to be taxable gains. Why is TurboTax putting them into my income, which IS taxed?

The gains will be reported as such on your tax return, but the tax on them will be adjusted to reflect the capital gain tax rates, which may be $0 as you mention. You will have to look on the Qualified Dividends and Capital Gain Tax worksheet to see how your tax is calculated. You will see the worksheet when you pay for your TurboTax program.

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

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