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June 4, 2019
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Completed my taxes with Turbo Tax. My taxable income is 46,616 and I owe 6096. Checked the IRS tax Tables and they show I owe 6197.

  • June 4, 2019
  • 1 reply
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    Best answer by VolvoGirl

    Even though the full amount shows up in the total  income on the 1040 line 6 (from Schedule 1 line 13) 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.

    https://ttlc.intuit.com/replies/3300459

    1 reply

    VolvoGirl
    VolvoGirlAnswer
    Employee
    June 4, 2019

    Even though the full amount shows up in the total  income on the 1040 line 6 (from Schedule 1 line 13) 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.

    https://ttlc.intuit.com/replies/3300459