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New Member
posted Jun 3, 2019 1:01:45 PM

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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1 Best answer
Level 15
Jun 3, 2019 1:01:48 PM

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.   

5 Replies
Level 15
Jun 3, 2019 1:01:46 PM

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

New Member
Jun 3, 2019 1:01:47 PM

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!

Level 15
Jun 3, 2019 1:01:48 PM

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.   

New Member
Jun 3, 2019 1:01:49 PM

Thank you!

Level 15
Jun 3, 2019 1:01:50 PM

My pleasure.