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tax incorrectly computed as zero on 43k for single filer

Working with online product.

The 2025 1040-SR has taxable income (line 15) of $43723.

Per tax table for single filer, tax should be $5009.

But in the print out to check the forms before filing, Turbo Tax put $0 as Tax on line 16.

 

How to fix it, or what else could be considered to show TT is correct and I'm mistaken about use of tax table.

 

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1 Best answer

Accepted Solutions

tax incorrectly computed as zero on 43k for single filer

Even though the full amount shows up in the total income on the 1040 lines 3b or 7, 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 the worksheets to see it.

Save the PDF
https://ttlc.intuit.com/community/saving/help/how-do-i-save-my-turbotax-online-return-as-a-pdf/00/26...

 

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4 Replies
MinhT1
Expert Alumni

tax incorrectly computed as zero on 43k for single filer

Please clarify. Do you have long term capital gains? How much?

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tax incorrectly computed as zero on 43k for single filer

Even though the full amount shows up in the total income on the 1040 lines 3b or 7, 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 the worksheets to see it.

Save the PDF
https://ttlc.intuit.com/community/saving/help/how-do-i-save-my-turbotax-online-return-as-a-pdf/00/26...

 

tax incorrectly computed as zero on 43k for single filer

Yes, there are long term capital gains. Thanks for the tip. Since Turbo Tax did not refer to any other forms during tax calculation it made me think it should just use the Tax Table. Should it have checked the box on line 16 to indicate that Qualified Dividends & Capital Gain Tax Worksheet was used to determine zero?

tax incorrectly computed as zero on 43k for single filer

Unfortunately the online generation of PDF does NOT include that worksheet. Some other posts say you need to download the .TAX file and use a desktop version to open the TAX file and then you can print some of the worksheets :( 

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