My Tax calculation is $0 My Taxable income is aprox 60000

[randycoop]

In researching the same thing happened last year.

I'll start over after I've worked out a legal case..  I know the phone s busy but i ve been waiting two and a half hour on phone for support when they said an hour.  Thank you for your hep but its 19pm here and ill send in a bad fed tax and let the Irs and ttx fight it out

[randycoop]

Bosso3

ill try your irs site thanks

[FangxiaL]

If most of your income is long-term capital gain and qualified dividends and your marginal tax rate is 12%, it is very possible that your tax liability is $0 because the long-term capital gain and qualified dividends are taxed at 0%.

[randycoop]

i have 60000of taxable income.. it will always calculate a tax.  carryover refunds are deducted from taxable income  \all the stuff your talking about come before taxable income know taxes.  i did them for decades before i  switched to ttx 25 years ago

[DawnC]

Check your Form 1040 - what is on Line 11?   That is your adjusted gross income.   Then look at Line 15 to find your total taxable income.   Your tax is figured on Line 16 and if it is not from the tax table, you will need to look at the worksheet that was used to figure your tax to see the detail.