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Even though the full amount shows up as income on the 1040 as income, if you have capital gains or qualified dividends the tax is not taken from the tax table but is calculated separately from schedule D. The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet. It does not get filed with your return. In the online version you need to save your return as a pdf file and include all worksheets to see it.
For the Desktop version you can switch to Forms Mode and open the worksheet to see it. Click Forms in the upper right (upper left for Mac) and look through the list and open the Qualified Dividends and Capital Gain Tax Worksheet.
your capital gains (assuming they're all long-term) are not being taxed it's your earned income
total income $36,000
less; capital gains $18,000
standard deduction single $12,550
income on which tax computed $5,450
tax approx 10% $545
if this is about the tax you see Turbotax is correct.
otherwise, you would likely be seeing a tax of over $2,600
Thank you
I can find no way to ask a new question on the Turbo Tax website. The stuff on a Google search gives instructions which are no longer valid. Some displays have a Search box, but no matter what I type in it, it shows a list of previous questions, but I can find no way to ask a new one. I tried calling and they were unable to find a way either.
I am hearing-impaired, so the phone is difficult for me, but there seems to be no way to email them directly or even with a website form. One of the screens had a Feedback box, but when I click it, nothing happens, so there is no way to give feedback. Found this screen where I can do a Post, so I will try that and hope I get a response from someone. My email is [email address removed].
I am a senior citizen who depends on Turbo Tax to do my taxes, but in effect I have NO support. They should be ashamed.
Hope this gets to someone who can respond by email.
Thanks.
@barryjedrick Use this link to Get Your Taxes Done Using TurboTax. There is a photo there with a blue box on the right that kind of blends in to the background but you can click Ask a Question. You can type in your own question to start a thread of your own
https://ttlc.intuit.com/community/taxes/discussion/02/202
I am an Uber driver.
The money went into the fraudster's account due to phone fraud.
In this case, can I get a deductible when I report the tax?
Uber sent it to the scammer's account
@kamaina1111 So sorry, but theft losses are not deductible on your tax return. The tax laws that changed with 2018 and beyond eliminated any deduction from the kind of theft you describe. You will need to seek help from Uber if Uber is at fault. Good luck.
If I e-filed my Federal and Kansas return does Kansas they require a paper copy?
No, if you successfully filed your tax return electronically then you don't need to mail anything. If Kansas needs any more information they will send you a letter.
I filed my Federal and Kansas State Taxes electronically with Turbo Tax on 2-1-2023, and I've already received my State Refund as of last Wednesday 2-6-2023!
I have extra page W2 that shows Miscellaneous Information do I need to enter in Box 12?
I was asked if I had form 1095 A and i said no as i have 1095C how do i fix this?
All information from box 12 of your W2 does need to be entered.
If you don't have a 1095-A and answered No to the question if you have one, that is correct. A1095-C is for information purposes only and does not need to be entered.
HOW DO I CORRECT MY TURBO TAX RETURN IF ALREADY FILED. I TRIED TO DO AND AMEND BUT IT DOES NOT ALLOW ME TO SELECT. I INPUTED INCORRECT INFORMATION ON INTERST PAID AND NEED TO DELETE IT,
If you already filed your return then you can't change the information on it. You have to file an amended return.
Before you file an amended return you will have to wait for the IRS to process the original return. Often, when the mistake is obvious, the IRS will fix your return for you and you don't have to do anything. You will just receive a refund that is a different amount than you originally expected as well as a letter explaining what the IRS changed on your return.
Either way, wait until you receive your refund and your return has been processed to amend your return. The amendment form isn't ready yet anyway (that's why it won't let you do it).
how do I submit vacation payout from a previous employer - no w2 was provided - I'm guessing because the payout was $576.
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