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February 20, 2025
Question

1099-DiV + Cap Gains

  • February 20, 2025
  • 1 reply
  • 0 views

I needed to amend my daughter's 2024 tax return and add a 1099-DIV which included some capital gains.

Her total Income after the amemded input was less than $30,000.

The income limit for any cap gains is 47025 (Single filers).

Turbo Tax still added about $1500 in taxes.. is this right? Shouldn't there be no Cap Gains tax in this case?

    1 reply

    February 20, 2025

    the cap gains push other income into a higher tax bracket. there is a capital gain and qualified dividend worksheet that you can review, 

    acavaleAuthor
    February 22, 2025

    Thanks very much