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BobInNH
Returning Member

Where can I see the details of the taxes owed on Line 16?

I see the total tax on 1040 Line 16 but I don't see a worksheet for how it's calculated. I know there are different rates for salary, short and long term cap gains.  What's it called?  I don't see anything like it on the Forms section on the LHS.

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4 Replies
AnnetteB6
Employee Tax Expert

Where can I see the details of the taxes owed on Line 16?

The worksheet used to calculate your taxes when taking capital gains into account is found in the IRS Instructions for Form 1040.  It is called the Qualified Dividends and Capital Gains Tax Worksheet.  This worksheet will be included as part of your tax return if it is being used to calculate your tax.  (Looking in Forms Mode of one of the CD/downloaded versions of TurboTax, it is labeled Qual Div/Cap Gn)

 

You can also find it on page 35 of the PDF document at this link:  2020 Form 1040 Instructions

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Where can I see the details of the taxes owed on Line 16?

Thank you.  It would be really good if on the forms view they allowed you to sort things alphabetically.  I searched and searced for that worksheet but couldn't find it.

Where can I see the details of the taxes owed on Line 16?

Alternatively, you may have  the Schedule D worksheet, instead of the “Qualified dividends and capital gains worksheet”.

 

Worksheet is abbreviated wks on the forms list

Where can I see the details of the taxes owed on Line 16?

Qual Div/Cap Gn is what I need.  It would be nice if there was a direct reference to it from Line 16.

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