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Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?
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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
See this IRS QDCG worksheet - https://www.irs.gov/pub/irs-prior/i1040gi--2017.pdf#page=44
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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?
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Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?
Yes
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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
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Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?
Yes, both
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Why is my tax $0 on line 44 when I have taxable income of $15,466 on 1040 line 43?
Thanks!
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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
See this IRS QDCG worksheet - https://www.irs.gov/pub/irs-prior/i1040gi--2017.pdf#page=44
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