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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29930
Experience:  Taxes, Immigration, Labor Relations
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I am 59 and retired. My only income was dividends and

Customer Question

I am 59 and retired. My only income for 2015 was dividends and capital gains which added up to $13,500. I imported this information from my Fidelity accounts into Turbo Tax and the end result was that I owed nothing. I E-filed it but now I'm concerned because I feel as though I should have owed something. Thanks!
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
That might be correct if a part of your income are QUALIFIED dividends and LONG term capital gains.
Expert:  Lev replied 1 year ago.
These categories of income are taxed at zero rate because your are in lower tax bracket.So if you have at least $3000 income from either of mentioned categories - you would not owe any federal income tax.Let me know if you need help to verify...I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.