My adjusted gross income is $25,818. My standard deduction is $16,550. My taxable income is $9,268.

Forum|Forum|1 year ago
April 13, 2025
2 replies
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Why am I paying $0 in tax, instead of 10% of my taxable income? That is what my Turbotax session came up with, and we filed with that amount. But I don't understand it, and I suspect that it's wrong.

Bsch4477

Employee

What is on line 33 of your 1040

VolvoGirl

Employee

What kind of income do you have? Are you looking at the tax on line 16? Even though the full amount shows up in the total income on the 1040 line 7, 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 the worksheets to see it.