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April 4, 2020
Question

Confusion on treatment of long term capital gains

  • April 4, 2020
  • 1 reply
  • 0 views

I'm using the downloaded Turbo Tax Basic.

 

My long term capital gains download properly from Vanguard, but it seems to me they are treated as ordinary income - Schedule D line 8b and line 15 - there doesn't seem to be any difference if they were long or short term gains.  Am I missing something?  How do I correct this?

 

Thanks, Mark

1 reply

April 4, 2020

The tax rate on long term gains is either 0%, 15% or 20% and is calculated on the Qualified Dividends and Capital Gain Tax Worksheet.

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