Question

Long Term Capital Gains Tax - TurboTax Online

Forum|Forum|5 years ago
February 23, 2021
1 reply
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From the schedule D worksheet, line 15 (net Long Term Capital Gains) is $37,477. Line 20 is checked Yes to complete the Qual Div/ Cap Gain Tax Worksheet, but it's not included in my downloaded paperwork from TurboTax Online Return. This should be taxed at 15% with my income bracket.

Why is the full amount $37,477 listed on line 7(Cap Gains) of the 1040? I don't see any other adjustments for Capital Gains taxes on the 1040, so how do I know that this was taxed at 15% and not as regular income?

Am I to assume that the proper Capital Gains tax was taken into account when determining line 16 (Tax) of my 1040?

TurboTax Premier Online

M

mglauner

You can indicate that you want to print/view/save your return 'with all forms and worksheets'. Click this link for instructions on how to do this from the Print Center.

Then you can review your Capital Gains calculations on the worksheets.

This article gives detailed info on Capital Gains you may find helpful.

L

lilguitarAuthor

Thank you, but the Qualified Dividends and Capital Gain Tax Worksheet is missing. I have the Schedule 2, B and D.

Within the Schedule D, it is checked to Complete the Qualified Dividends and Capital Gain Tax Worksheet, but it is not included in the printable file.

In the Qual Div/Cap Gains Worksheet line 27 at the bottom says "Enter the smaller of line 25 or 26. Also include this amount on the entry space on Form 1040, line 11a." Except my 1040 doesn't even show a line 11a, just 11.

I also have Forms 8949 included as well as the Form 8960 in the file, but again no Qualified Dividends and Capital Gain Tax Worksheet was included and no line 11a on my 1040.