Question

Should turbo tax calculate a tax liability if line 15 on 1040 shows a taxable income of $34284? My line 16 is zero, what is causing this, we are filing married/ joint?

Forum|Forum|5 years ago
May 10, 2021
2 replies
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Why is this not doing the calculation?

Employee

It depends on what kind of income you have, 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.

macuser_22

Employee

Depends on the source of income. Very possible if qualified dividends or capital gains.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**