questions for capital gain tax is double charge from my individual tax and capital gain tax?

Forum|Forum|5 years ago
July 11, 2020
1 reply
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I have paid capital gain tax through my individual tax , Do I need to pay additional capital gain tax based 0%, 15%,25%? What form do I fill up to pay this additional tax?

Do both short term and long term need to pay additional capital gain tax according to 0%, 15%, 25%?

Thanks,

Doris

VolvoGirl

No. It is part of your regular tax.

Even though it shows up as income on the first page, if you have capital gains or qualified dividends the tax on line 12a is not taken from the tax table but is calculated separately from schedule D. The tax will be calculated on the Qualified Dividends and Capital Gain Tax Worksheet. It does not get filed with your return. In the online version you need to save your return as a pdf file and include all worksheets to see it.

For the Desktop version you can switch to Forms Mode and open the worksheet to see it. Click Forms in the upper right (upper left for Mac) and look through the list and open the Qualified Dividends and Capital Gain Tax Worksheet.