Skip to main content
February 18, 2023
Question

Why do I have a capital gains tax of over $1300 when all my investments (8 of them) registered losses in 2022?

  • February 18, 2023
  • 4 replies
  • 0 views
No text available

4 replies

VolvoGirl
Employee
February 18, 2023

Are you in Deluxe or Premier?  You have to use Premier to enter investment sales.  Did you enter any K-1 forms or have capital gains listed on a 1099 DIV for dividends?  Where are you seeing the tax listed?  

VolvoGirl
Employee
February 18, 2023

Check 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.


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.

February 18, 2023

the special tax is on qualified dividends as well and security losses are limited to $3,000 when computing this special tax which is at a lower rate than the standard for your income 

February 24, 2023

Without knowing more about your tax situation, its difficult even to speculate as to the reason why you are showing a capital gains tax of $1,300.  Your investment losses may not be the issue particularly if you sold a capital asset for a gain, and your investment losses could only offset up to $3,000 of that gain.  Assuming you still need some guidance on this issue, follow-up with additional information about your income such as wages, dividends, interest income, property sales, etc.  As a reminder, don't include any personally identifiable information.  

 

@estg47 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"