Capital gains

[Seymour3]

I am using Premiere and when I enter my long term gain on a stock sale my refund is lowered by several hundred dollars. From what I understand if my income is under $80,000 dollars, I should pay 0% tax on the sale. I am filing married jointly and we are under $83,350 with the sale of stock included. Why does my refund get smaller if I am not supposed to be taxed?

[rjs]

We can't see your tax return, so this is just a guess. The long-term gain increases your Adjusted Gross Income (AGI), regardless of what tax rate is applied to it. The increase in AGI could be reducing some deduction or credit that is not directly related to capital gain or loss. Try comparing Form 1040 line by line before and after entering the gain, to see what else changes. Depending on what changes on Form 1040, you might then have to look at a schedule that the changed amount comes from.

[Seymour3]

Thanks Champ,

 That is exactly what it was. I seen the correct calculations and understand it now. Thanks for the help.