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Level 5

Solved

No tax computed

Forum|Forum|7 years ago
June 1, 2019
1 reply
9 views

Federal form 1040 correctly calculated taxable income but calculates zero tax; the Tax Smart Worksheet has "Qualified Dividends and Capital Gain Tax Worksheet" checked.

How do I look at the Qualified Dividends and Capital Gain Tax Worksheet so that I can see why no tax is calculated?

TurboTax Deluxe Mac

Best answer by AnthonyC

It appears that you are using the MAC desktop program. If you switch to forms mode, you can view this worksheet. In the left hand corner of your program, there should be an icon that says Forms. Click that and it will switch to forms mode. On the left hand side, you will see a list of forms one of which will be the QD and Cap Gain Worksheet. If you don't see it, you can click open form (top middle of the screen) and search for it.

If most of your taxable income is coming from long-term capital gains, then this result would not be unusual depending on your income. For those in the 10 and 15% tax bracket, capital gains are taxed at a 0% rate.

Level 12

It appears that you are using the MAC desktop program. If you switch to forms mode, you can view this worksheet. In the left hand corner of your program, there should be an icon that says Forms. Click that and it will switch to forms mode. On the left hand side, you will see a list of forms one of which will be the QD and Cap Gain Worksheet. If you don't see it, you can click open form (top middle of the screen) and search for it.

If most of your taxable income is coming from long-term capital gains, then this result would not be unusual depending on your income. For those in the 10 and 15% tax bracket, capital gains are taxed at a 0% rate.