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March 9, 2023
Question

Where is the worksheet for the total tax calculation under the Forms section?

  • March 9, 2023
  • 2 replies
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2 replies

VolvoGirl
Employee
March 9, 2023

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.

rjs
Employee
March 10, 2023

There are seven different methods that can be used to calculate your tax, depending on what types of income you have and other things in your tax return. Not all the methods use a worksheet, but there is a different worksheet for each method that does use a worksheet. The IRS instructions for Form 1040 line 16 explain the conditions for determining which of the seven methods to use, starting at the bottom of the middle column on page 33 of the 2022 Instructions for Form 1040. The instructions tell you which worksheet is used for each method.


If you are using the CD/Download TurboTax software you can see which method TurboTax used by looking at the 7 checkboxes in the Tax Smart Worksheet. You can see the Tax Smart Worksheet in forms mode. It's between lines 15 and 16 in the first section of the Form 1040 or Form 1040-SR Worksheet. The Tax Smart Worksheet does not calculate your tax. It just shows you which calculation method TurboTax used.