turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

reg-20-flamespla
Returning Member

My Fed tax is only shown as 6%. I think my "Taxable interest income" is being ignored. taxable income was $41,470. total tax before any credits was $2,468

Your total income for the year was $56,116, including: - Taxable interest income, $34,478 - Ordinary dividends, $24,638 - Capital gains, -$3,000 You took the Standard Deduction of $14,600. Your total deductions were $14,646, including a $46 Qualified Business Income Deduction. After applying your deductions, your taxable income was $41,470. Based on this amount, your total tax before any credits was $2,468.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
KeshaH
Employee Tax Expert

My Fed tax is only shown as 6%. I think my "Taxable interest income" is being ignored. taxable income was $41,470. total tax before any credits was $2,468

If most of your dividends are qualified dividends, your tax liability would be correct. Qualified dividends are taxed at a preferred rate, 0% in your case based on your filing status and taxable income. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question