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exploramar
New Member

Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?

 
1 Best answer

Accepted Solutions
DoninGA
Level 15

Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?

Your taxes on the taxable income is calculated using the Qualified Dividends and Capital Gains worksheet and not the IRS tax tables.
See this IRS QDCG worksheet - https://www.irs.gov/pub/irs-prior/i1040gi--2017.pdf#page=44

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6 Replies
DoninGA
Level 15

Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?

Did you report qualified dividends or capital gains on your tax return?
exploramar
New Member

Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?

Yes
exploramar
New Member

Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?

I reported both of those
exploramar
New Member

Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?

Yes, both
exploramar
New Member

Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?

Thanks!
DoninGA
Level 15

Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?

Your taxes on the taxable income is calculated using the Qualified Dividends and Capital Gains worksheet and not the IRS tax tables.
See this IRS QDCG worksheet - https://www.irs.gov/pub/irs-prior/i1040gi--2017.pdf#page=44
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