dbtaxsolutions
Level 4
In Schedule 1 shows this adjustment to income, line 13 cap gain 24 513 - 11273, line 22 gives 13 240, which then goes to line 6 of 1040 increasing taxable income. These are in the return that produced a lower tax bill with capital gain, why i am trying to get at is why with 13 240 capital gain, it was giving me $2139 tax, if i take it out, it's $2903. In the tax smart worksheet, with capital gain, it selects the capital gain tax table, without it, it selects the first box of tax table. I see what the software is doing, but i wanted to see the behind the scene how these tax figures came about.. I have played with this return over and over and still getting the same result. sorry, i am missing something for sure, just don't know what. thank you.
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