2920349
Hello
Prior to filling out form 6781 for capital loss I filled out my regular forms for an income of $2712 with a tax liability of $313. I then filled out form 6781 which gave me a total income of Minus $288. WHY do I still owe the $313 from the $2712 income which is no longer valid with the $3000 max capital loss applied?? Net income now Minus $-288. Please see the below:
You had a loss for your 2022 income
Total Income | $-289 |
Deductions | - $14,857 |
Taxable Income | = $0 |
Blended Tax Rate | x 0.0% |
Tax Liability This is how much you were supposed to pay in taxes. | = $313 |
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The tax may be from something besides income tax, like a penalty or self-employment tax. You can look on schedule 2 of your Form 1040 to see if you have any Additional Tax.
You can view your form 1040 and schedules 1 to 3 while working in the online version of TurboTax by following these steps:
do you have self-employment income - schedule C? that SE tax can not be eliminated. schedule 2 line 4
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