If my AGI is 67k, and I am filing MFJ, why were my long term capital gains included in my tax liability?

Forum|Forum|4 years ago
March 15, 2022
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ThomasM125

Based on your income, the long term capital gains should not have been taxed. I suggest you look the schedule D tax worksheet to verify that the gains are being taxed. The amount on line 22 of that form would be the income taxed at 0%.

It could be that you have a tax but it is not coming from your investment gains.

@jkvguharden

[Edited 3-15-22 @4:16 PM EST]

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jkgvhardenAuthor

Line 22 on Schedule D looks like this:
22 Do you have qualified dividends on Form 1040, 1040-SR, or 1040-NR, line 3a?
Yes. Complete the Qualified Dividends and Capital Gain Tax Worksheet in the instructions
for Forms 1040 and 1040-SR, line 16.
No. Complete the rest of Form 1040, 1040-SR, or 1040-NR
and line 7 of my 1040 has $592.00

Mike9241

capital gains push other income into a higher bracket.

jkgvhardenAuthor

My Long Term Capital gains are not taxable due to my taxable income is under 80,800.
And YET- Turbo tax placed that amount on line 7 of my 1040 thereby including that amount in my taxable income. I believe this is an error an the part of TurboTax. To whom would I speak regarding getting this corrected?