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jnjrowe
New Member

Just finished my return. Taxable income $18,140 & tax on line 44 zero. I know that’s wrong. What do I do?

 
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Just finished my return. Taxable income $18,140 & tax on line 44 zero. I know that’s wrong. What do I do?

If you are in the 10% or 15% tax bracket for 2017, the capital gains tax rate is 0%.

That's right 0%.  

The taxes are not computed using the Tax Rate Tables when you have Capital Gains and/or Qualified Dividends.

Please click on this link for more details on this.

https://turbotax.intuit.com/tax-tips/investments-and-taxes/5-things-you-should-know-about-capital-ga...

Your tax computation is correct providing all the income has been reported.

TurboTax has a 100% Accuracy Guarantee on the tax computation.   

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5 Replies

Just finished my return. Taxable income $18,140 & tax on line 44 zero. I know that’s wrong. What do I do?

Do you have capital gains and/or dividends making up a large amount of the taxable income on the return?
jnjrowe
New Member

Just finished my return. Taxable income $18,140 & tax on line 44 zero. I know that’s wrong. What do I do?

Yes, but there is no schedule attached or any box "x'd" on tax line to clue you in on tax calculation. Just looks like you should have gone to tax tables to calculate tax. Thanks for your help!

Just finished my return. Taxable income $18,140 & tax on line 44 zero. I know that’s wrong. What do I do?

If you are in the 10% or 15% tax bracket for 2017, the capital gains tax rate is 0%.

That's right 0%.  

The taxes are not computed using the Tax Rate Tables when you have Capital Gains and/or Qualified Dividends.

Please click on this link for more details on this.

https://turbotax.intuit.com/tax-tips/investments-and-taxes/5-things-you-should-know-about-capital-ga...

Your tax computation is correct providing all the income has been reported.

TurboTax has a 100% Accuracy Guarantee on the tax computation.   

jnjrowe
New Member

Just finished my return. Taxable income $18,140 & tax on line 44 zero. I know that’s wrong. What do I do?

Thank you!

Just finished my return. Taxable income $18,140 & tax on line 44 zero. I know that’s wrong. What do I do?

My pleasure.
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