Where is the Long-Term Capital Gain tax calculated, and separated from Taxable Income?

[henrysil]

I understand the theory about the rates. LTCG may be added to total income for the regular tax bracket, but is supposed to be taxed at a lower tax rate. Where is that? I see form 1040 simply adding the LTCG from Schedule D to the "taxable income," isn't this income used to look up the tax from the tables? Wouldn't that include LTCG with them? Where are LTCG "removed" from total income for regular tax?

[JohnB5677]

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.  

[henrysil]

Thank you. I see the worksheet for my 2019 return, but selecting "Download PDF" on my 2020 return does NOT include any worksheets... I don't see an option for this, do you know how to download ALL worksheets for 2020? Thanks!

[SForrestLO]

Are you selecting Choose Download All Forms and Worksheets when you print?

[henrysil]

The "Download/Print Return (PDF)" link for 2020 only pops up the file download with the only option, and the worksheets are not included. Where can I find the "Download All Forms and Worksheets" link? Thanks!

[DoninGA · Accepted solution]

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@henrysil wrote:

The "Download/Print Return (PDF)" link for 2020 only pops up the file download with the only option, and the worksheets are not included. Where can I find the "Download All Forms and Worksheets" link? Thanks!

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To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - https://myturbotax.intuit.com/

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state. 

This will take you back to the 2020 online tax return.

Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets

[henrysil]

Yes! Thank you! It seems you can only do this while you are still "working" on your tax return, not after filing. This was a neat trick!