473322
I am aware that an adjustment to qualified dividends and LT Capital Gains is required if the following is true.
- You have foreign qualifying dividends or long-term capital gains totaling more that $20,000, OR
- Your total income exceeds the following amount for your filing status:
- Married Filing Joint or Qualifying Widow(er): $223,050
- Single: $183,250
- Head of Household: $203,150
- Married Filing Separate: $111,525
But I get an error if I change lines (1i) Section 1250 (25%) Capital Gains and (1j) Collectibles (28%) Capital Gains to be the value that TT says is the minimum because they then add up to more than line (1m) Qual. Dividends and LT Capital Gains. How do I fix this error in TT?
For reference, this is from Part 1 - Taxable Income (Loss) of the worksheet
1 Gross income:
a
b
c Interest and Dividends from Schedule B
d From Schedules K-1
e From Form 2555 foreign earned income
f Unadjusted gross income this category
g Ordinary Income
h Qual. Dividends and LT Capital Gains
i Section 1250 (25%) Capital Gains
j Collectibles (28%) Capital Gains
k Adjustment required for QD/LTCG
l Net Qual. Dividends and LTCG
m Adjusted gross income this category
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Here is a suggested workaround. Add up 1i and 1j and add that to 1h. As long as 1h is less than $20,000, it should not have any adverse effect which can be verified if 1m does not decrease.
how on earth do I "bring up the worksheet" ?
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