Capital gains income is not calculating taxes correctly on short v. long term; considering it all as one income; no schedule D on the 1040 preview. How to fix this?

Forum|Forum|2 months ago
April 17, 2026
1 reply
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On the 1099-B worksheet, it does have short and long term labeled correctly, but neither in the capital gains summary nor anywhere in the 1040 preview does it appear that long term gains are broken out. The total amount of capital gains appears in the total income on 1040.

TurboTax Online

VolvoGirl

Level 15

You have to print out the full return with all the forms and worksheets to see Schedule D etc.

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-table/00/25752

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

For the Desktop version you can switch to Forms Mode and open the worksheet to see it. Click Forms in the upper right (upper left for Mac) and look through the list and open the Qualified Dividends and Capital Gain Tax Worksheet.

IRS Qualified Dividends and Capital Gain Tax Worksheet—Line 16 on 1040 instructions page 36. And you will need the IRS Tax Tables starting on page 64 or the Tax Computation Worksheet on page 76.

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