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New Member

How can my tax calculation be zero if I have income on line 10 of $66,364?

Filing maaried jointly. Income on 2b, 3b, 4b, and line 6 totals to 99,802. Itimized deductin of $33,438 and line 10 is $66,364. Line 22 is $0?

4 Replies
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Level 12

How can my tax calculation be zero if I have income on line 10 of $66,364?

Is the majority of your income qualified dividends and/or long term capital gains?
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
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New Member

How can my tax calculation be zero if I have income on line 10 of $66,364?

90% is dividend and LT capital gains.
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Level 15

How can my tax calculation be zero if I have income on line 10 of $66,364?

Line 22 is the amount that you owe, it is not your tax which is on line 11.  Line 18 is subtracted from line 11.  Line 22 would only have an amount if line 11 is more than 18, otherwise the difference would be on line 19 which would be a refund.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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Level 15

How can my tax calculation be zero if I have income on line 10 of $66,364?

Surprise and good news ... if 90% of your income is qualifying dividends and/or long term Cap gains then ZERO taxes would be correct ... please save a PDF of the return that includes all the worksheets and review that worksheet to see how that happened ...

https://ttlc.intuit.com/replies/3300459