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Level 3
March 30, 2025
Question

CLENT HAS $33,382 INT &DIV, $22,545 TAX SOC SEC, $22,165 CAPITAL GAIN, TOT INC $78,092 MINUS STAN DED $3,2300 TAX INC OF $45,792 AND OWES NO FED TAXES?

  • March 30, 2025
  • 2 replies
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    2 replies

    dkh
    Level 15
    March 30, 2025

    Look at your Qualified Dividend and Capital Gains Tax worksheet - that may help with understanding the no federal taxes situation

    abctax55
    Level 15
    March 30, 2025

    Or,  look at the diagnostics ( those diags, that are great, and that us Lacerte users pay big bucks for..) and you'll see how much of the capital gain is taxed at zero.

    There is also a very nice worksheet that shows the amounts of income in each tax bracket.

    HumanKind... Be Both