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Level 1

Line 43 of my 1040 (as prepared by TurboTax) shows us with over $30,000 in taxable income, but Line 44 (the actual tax) shows 0. How is this possible?

 
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Level 20

Line 43 of my 1040 (as prepared by TurboTax) shows us with over $30,000 in taxable income, but Line 44 (the actual tax) shows 0. How is this possible?

Do you have qualified dividends and/or capital gains reported on your tax return?
6 Replies
Level 1

Line 43 of my 1040 (as prepared by TurboTax) shows us with over $30,000 in taxable income, but Line 44 (the actual tax) shows 0. How is this possible?

Yes, and more than enough to cover the entirety of line 43. (I was wondering if that was it, but I don't see it spelled out anywhere in the return.)
Level 20

Line 43 of my 1040 (as prepared by TurboTax) shows us with over $30,000 in taxable income, but Line 44 (the actual tax) shows 0. How is this possible?

Your taxes are calculated using the Qualified Dividends and Capital Gains worksheet, not the IRS tax tables.
Go to this IRS website for the QDCG worksheet - <a rel="nofollow" target="_blank" href="https://www.irs.gov/pub/irs-prior/i1040gi--2017.pdf#page=44">https://www.irs.gov/pub/irs-prior/i1040...>
Level 1

Line 43 of my 1040 (as prepared by TurboTax) shows us with over $30,000 in taxable income, but Line 44 (the actual tax) shows 0. How is this possible?

Yes, thanks. It would be nice if TurboTax supplied a copy of their version of the worksheet rather than just coming up with 0 as if by magic. But I appreciate your reassurance that the 0 should be accurate.
Level 20

Line 43 of my 1040 (as prepared by TurboTax) shows us with over $30,000 in taxable income, but Line 44 (the actual tax) shows 0. How is this possible?

After your file your tax return or paid the TurboTax account fees, the QDCG worksheet is included with the PDF of your tax return when you download the PDF to include all forms and worksheets.

If you have filed your tax return -

To access your current or prior year online tax returns sign onto the TurboTax website with the userID you used to create the account - <a rel="nofollow" target="_blank" href="https://myturbotax.intuit.com/">https://myturbotax.intuit.com/</a>

Scroll down to the bottom of the screen and Click on Add a state

Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets
Level 1

Line 43 of my 1040 (as prepared by TurboTax) shows us with over $30,000 in taxable income, but Line 44 (the actual tax) shows 0. How is this possible?

Got it! Thanks.
Level 20

Line 43 of my 1040 (as prepared by TurboTax) shows us with over $30,000 in taxable income, but Line 44 (the actual tax) shows 0. How is this possible?

Do you have qualified dividends and/or capital gains reported on your tax return?