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I'm filling out my 1040 and am stuck on #44 -- how to
Hi. I'm filling out my 1040 and am stuck on #44 -- how to calculate my tax. Either the tax table (I earned less that $100K) or the qualified dividends and capital gain tax worksheet, which tells me --… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,814 satisfied customers
Expecting an inherited real estate property to sell
Expecting an inherited real estate property to sell resulting in say a 95K stepped up long term capital gain(after basis subtraction). This year as well as several years, myself and spouse, have been … read more
Barbara
Barbara
Enrolled Agent, Paralegal
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I trying to do my 2014 tax return... I have $18K in capital
I trying to do my 2014 tax return... I have $18K in capital gains distributions. Per the 1040 instructions, I should complete Schedule D. I included the capital distribution amount on Line 13. Im not … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,814 satisfied customers
On line 43 of our form 1040, our taxable income is listed as
On line 43 of our form 1040 (2013), our taxable income is listed as $65,500. Since we are married filing jointly, as I read the tax table, our line 44 should say about $8900, but it doesn't, it says $… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,814 satisfied customers
My wife and I are retired. Besides social security we received
My wife and I are retired. Besides social security we received $7500 in long term capital gains and $38,000 in capital gain distributions from our mutual fund. Filling out schedule D and form 8949 the… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
3,289 satisfied customers
Need help with capital gains question. Sold my residential
Need help with capital gains question. Sold my residential rental property for a gain of $17,145. Need to know the proper forms to fill out. Also, trying to determine tax on line 44. Line 43 is $12843… read more
Tax.appeal.168
Tax.appeal.168
Principal
4,895 satisfied customers
I know there is a 0% capital gains rate if your joint income
I know there is a 0% capital gains rate if your joint income is $90,000 and under but I can't find any specific information on it. I've heard it goes on Schedule D but I can't figure out where. Help… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
I have a form 1099-DIV for 2010 Dividends and Distributions.
I have a form 1099-DIV for 2010 Dividends and Distributions. It has $326.64 on line 1a Total Ordinary Dividends and the same amount on line 1b Qualified Dividends. I am having difficulty figuring out … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,814 satisfied customers
This question has two parts.1. I am assuming the tiered
This question has two parts. 1. I am assuming the tiered US income tax brackets are based on 1040 Line 43, Taxable Income. That is, whatever ends up on that line, the margin tax brackets are applied a… read more
William Ellis, CPA
William Ellis, CPA
Master's Degree
241 satisfied customers
You say for long term capital gains on stocks, that I would
You say for long term capital gains on stocks, that I would only pay 15% tax. I filled out my Sch D form for 2010 and it tells me to directly enter my gains (Sch D, line 16) to my 1040, line 13 that i… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Hi I received distributions from a limited partnership which
Hi I received distributions from a limited partnership which are stated on the K1 form as long term capital gains. I understand that these are taxed at 15%, but how does that actually happen? It seems… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I received from Vanguard a form 1009-B ffor long term capital
I received from Vanguard a form 1009-B ffor long term capital gains of $2524. It appears thatI must report that sum on line 15 of schedule D and 13 of my 1040. I can't figure out how this sum gets tax… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
lets say you have a 100000 long term capital gain on schedule
lets say you have a 100000 long term capital gain on schedule d line 16 and you enter that amount on line 13 of the 1040 form after you get to line 44 do you use th e qualified dividends and captial g… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I am filing a trust return 1041 for a trust I have created
I am filing a trust return 1041 for a trust I have created for my grandchildren. The trust holds $400,000 in mutual fund investments that pay out intrest, dividends (both qualified and non qulified) a… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
If I add my capital gains from schedule D to line 13 of my
If I add my capital gains from schedule D to line 13 of my form 1040 then it adjusts my income and the tax is based on my overall tax bracket of 28%. How do I report the gains in such a way as to only… read more
Bill
Bill
Master's Degree
3,132 satisfied customers
My 2007 Tax prepared by TurboTax form 6251 line 44 ...
My 2007 Tax prepared by TurboTax form 6251 line 44 shows a figure of 50,394 Can you tell me how this was calculated ??… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I sold some timber and received a form 1099-S. I file ...
I sold some timber and received a form 1099-S. I file form 1040 but have no capital gains. Balance of return consists of wages, interest income, and I use schedule A for deductions. Can I use the capi… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,814 satisfied customers
I sold a vacant lot last June The difference from Cost ...
I sold a vacant lot last June The difference from Cost basis and net was $42506. Question Do I enter this amount on line 13 of form1040 before I do SS calculations and then do worksheet on D10 or do I… read more
Christopher Phelps
Christopher Phelps
Sole Practitioner
Master Degree
1,180 satisfied customers
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