Obvious MIstake

Forum|Forum|4 years ago
March 8, 2022
1 reply
3 views

I have used Turbotax for years, mostly because I have investments and don't know how to do that portion of the tax return myself. Other than the investments, I understand the 1040 and how it works. I am now preparing my 2021 taxes and there is an obvious error in the calculations. Turbotax shows that my taxable income is just over $3,000. But on the next line, "Tax Due", it shows $0. This cannot be right. How do I fix this?

TurboTax Premier Online

Best answer by JamesG1

We are unable to see your tax return. Does the tax return qualify for the Qualified Dividends and Capital Gains worksheet?

Qualified Dividends and Capital Gains worksheet segregates your income and taxes the income at the 0%, 15%, 20% and your ordinary tax rate.

Does the taxable income on line 15 of the Federal 1040 qualify for the 0% tax rate?

If so, does line 18 of the worksheet reflect $0? The form can be viewed at page 36.

JamesG1Answer

Level 15

We are unable to see your tax return. Does the tax return qualify for the Qualified Dividends and Capital Gains worksheet?

Qualified Dividends and Capital Gains worksheet segregates your income and taxes the income at the 0%, 15%, 20% and your ordinary tax rate.

Does the taxable income on line 15 of the Federal 1040 qualify for the 0% tax rate?

If so, does line 18 of the worksheet reflect $0? The form can be viewed at page 36.

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Obvious MIstake

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