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June 6, 2019
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How do I see in turbo tax the actual calculation of the federal tax owed - that is income bases times tax rates, for regular income and capital gains?

  • June 6, 2019
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Best answer by EdwardK

To determine what tax rate is actually applied to the capital gains on your federal tax return, you would have to review the Qualified Dividends and Capital Gain Tax Worksheet (after paying to download/print) if it is included in your federal tax return.

However, you may determine if the worksheet is included in your federal tax return (before paying) by previewing Form 1040 using the following instructions and seeing if Qualified Dividends and Capital Gain Tax Worksheet is checked under Form 1040 Line 43 under Tax Smart Worksheet: How do I preview my TurboTax Online return before filing?

If the Qualified Dividends and Capital Gain Tax Worksheet is not included in your federal tax return, you should review how you entered stock sales and ensure you selected the appropriate sale category. Please review the following link(s) and the link(s) embedded on the webpage(s) for more information:

You should also note if any additional taxes are reported on your federal tax return (Form 1040 Lines 45-46, 57-63). For example, TurboTax may automatically calculate and include IRS Form 6251, Alternative Minimum Tax - Individuals, IRS Form 8959, Additional Medicare Tax and IRS Form 8960, Net Investment Income Tax Individuals, Estates, and Trusts in your federal tax return, if applicable. You may determine if these forms are included in your federal tax return using the following instructions (but don't actually delete forms): How do I delete forms in TurboTax Online?

Please review the following link(s) and the link(s) embedded on the webpage(s) for more information:

1 reply

EdwardKAnswer
Employee
June 6, 2019

To determine what tax rate is actually applied to the capital gains on your federal tax return, you would have to review the Qualified Dividends and Capital Gain Tax Worksheet (after paying to download/print) if it is included in your federal tax return.

However, you may determine if the worksheet is included in your federal tax return (before paying) by previewing Form 1040 using the following instructions and seeing if Qualified Dividends and Capital Gain Tax Worksheet is checked under Form 1040 Line 43 under Tax Smart Worksheet: How do I preview my TurboTax Online return before filing?

If the Qualified Dividends and Capital Gain Tax Worksheet is not included in your federal tax return, you should review how you entered stock sales and ensure you selected the appropriate sale category. Please review the following link(s) and the link(s) embedded on the webpage(s) for more information:

You should also note if any additional taxes are reported on your federal tax return (Form 1040 Lines 45-46, 57-63). For example, TurboTax may automatically calculate and include IRS Form 6251, Alternative Minimum Tax - Individuals, IRS Form 8959, Additional Medicare Tax and IRS Form 8960, Net Investment Income Tax Individuals, Estates, and Trusts in your federal tax return, if applicable. You may determine if these forms are included in your federal tax return using the following instructions (but don't actually delete forms): How do I delete forms in TurboTax Online?

Please review the following link(s) and the link(s) embedded on the webpage(s) for more information: