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IRS Corrected Tax: Qualified Dividends and Capital Gain Tax vs Schedule D Tax Worksheet.

For my 2023 tax I had Schedule D gains and Turbotax used the Schedule D Tax worksheet to calculate my tax.  But the IRS corrected this and charged me $8000 less tax.  It appears the IRS wanted me to use the Qualified Dividends and Capital Gain Tax Worksheet.   I can't tell for sure as the IRS correction does not say how they calculated the corrected tax.  
Is there anyway to force Turbotax to use the Qualified Dividends and Capital Gain Tax?  
I did have both Qualified Dividends and Capital Gains.

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4 Replies

IRS Corrected Tax: Qualified Dividends and Capital Gain Tax vs Schedule D Tax Worksheet.

Sounds like you made an entry error on a 1099 DIV.  Did you miss entering box 2a?  Is 1040 line 3a right?   If you imported any 1099 forms it may have imported wrong.  

IRS Corrected Tax: Qualified Dividends and Capital Gain Tax vs Schedule D Tax Worksheet.

Line 3A is correct and all my 1099 DIV forms imported correctly.

IRS Corrected Tax: Qualified Dividends and Capital Gain Tax vs Schedule D Tax Worksheet.

Turbotax should have used it automatically based on your entries. Is the worksheet in your tax file? if so, review it line for line to what's on your return.

another approach would be to review your tax return transcript at the IRS, it should show as reported and as computed for each line. If the file is too large you can request a copy be sent to you.

 

IRS Corrected Tax: Qualified Dividends and Capital Gain Tax vs Schedule D Tax Worksheet.

Turbotax used the Schedule D Tax worksheet to calculate my tax.  
However, from looking at the IRS transcript, it appears the corrections showed they used the "Qualified Dividends and Capital Gain Tax Worksheet".
I can't know for sure as the IRS correction does not say how they calculated the corrected tax. But when I force Turbotax to use the "Qualified Dividends and Capital Gain Tax Worksheet", the tax from Turtbotax and the IRS match.

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