Solved
0% Tax Rate?
I have over $70,000 of "Taxable Income" for "Married Filing Jointly". Turbotax is saying or Total Tax is 0. That's doesn't seem right. Why don't I owe anything?
DoninGAAnswer
Level 15
Apr 8, 2022 6:17 PM UTC
That is possible if you have Qualified Dividends and/or Capital Gains reported on your tax return. The tax tables would not be used. The Qualified Dividends and Capital Gains Worksheet would be used to calculate any taxes owed on the taxable income.
Go to this IRS Form 1040 instructions for the QD&CG Worksheet page 36 - https://www.irs.gov/pub/irs-pdf/i1040gi.pdf#page=36
