Question

Why is my 1040X (Amended Return) not offering a Federal Refund after I have reduced Capital Gains from the original $9,000 to the correct $1,500?

Forum|Forum|1 year ago
March 6, 2025
1 reply
0 views

Since my capital gains tax rate is 15%, I was expecting to see a refund of $1,125 (from multiplying the difference of 7,500 by .15). Thank you.

J

JamesG1

Difficult to know without seeing the tax return.

Does your Federal 1040 income tax return compute the capital gains on a Schedule D Tax Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet?

In TurboTax Premium Online, you may be able to review your forms after you have paid for the software.

View the entries down the left side of the screen at Tax Tools.
Select Print Center.
Select Print, save or preview this year's return.

See the IRS Schedule D Tax Worksheet page D-16.

See the Qualified Dividends and Capital Gain Tax Worksheet page 36.

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