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Short-term & long-term capital gain added together to line 13 in form 1040. Then how can they taxed at different rate?

Forum|Forum|6 years ago
June 7, 2019
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Best answer by MinhT1

Although both long-term and short-term capital gains are added together on line 6 of form 1040, TurboTax will correctly calculate taxes based on amounts reported on Schedule D, where long-term and short-term capital gains are reported separately.

Edited 03/09/2020 | 1:08 PM PST

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MinhT1Answer

Although both long-term and short-term capital gains are added together on line 6 of form 1040, TurboTax will correctly calculate taxes based on amounts reported on Schedule D, where long-term and short-term capital gains are reported separately.

Edited 03/09/2020 | 1:08 PM PST

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tonyo

Hi MinhT, if short and long term capital gains are added together and TurboTax will correctly calculate taxes based on the amounts reported on Schedule D, why is the total amount (STCG&LTCG) added to the total income and tax bracket is applied on line 10 of 1040? Where is the adjustment being made?