in [Event] Ask the Experts: Tax Law Changes - One Big Beautiful Bill (OBBBA)
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There are like 7 ways to figure the tax. 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 worksheets to see it.
For the Desktop version you can switch to Forms Mode and open the worksheet to see it. Click Forms in the upper right (upper left for Mac) and look through the list and open the Qualified Dividends and Capital Gain Tax Worksheet.
Everything does not go by the same "table"---- do you have any capital gains or qualified dividends, for example?
Thanks. I’m checking that now.
Ok. I do have qualified dividends, and it appears like that amount reduces my taxable income by the same amount. I ‘viewed’ and saved my tax return before I efile, but there is not a schedule showing the revised tax calc.. I’ll proceed and maybe it will show up after. If Turbotax calculated it wrong, I guess I’m covered.
thank you!!
Efiled, and qualified dividends was the issue. Filed return documents have the schedules.
Thanks for the instant answers!!!
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