What is the qualified dividends and capital gain tax worksheet

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How do I download my Qualified Dividends and Capital Gain Tax Worksheet? It was not included with the 1040.

@jerry88rie 

Use this procedure -

To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - //myturbotax.intuit.com/

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state. 

This will take you back to the 2021 online tax return.

Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets

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How do I download my Qualified Dividends and Capital Gain Tax Worksheet? It was not included with the 1040.

TurboTax will generate the worksheet to compute your tax on line 16 of the Federal 1040 tax return if your tax return meets the qualifications for the worksheet.  Are you reporting qualified dividends?

This IRS publication page 34 states:

Use the Qualified Dividends and Capital Gain Tax Worksheet to figure your tax if you do not have to use the Schedule D Tax Worksheet and if any of the following applies. 

  • You reported qualified dividends on Form 1040 or 1040-SR, line 3a. 
  • You do not have to file Schedule D and you reported capital gain distributions on Form 1040 or 1040-SR, line 7. 
  • You are filing Schedule D, and Schedule D, lines 15 and 16, are both more than zero.

But if you are filing Form 2555, you must use the Foreign Earned Income Tax Worksheet instead.

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How do I download my Qualified Dividends and Capital Gain Tax Worksheet? It was not included with the 1040.

Hi @JamesG1,

Yes, I am reporting qualified dividends.

When I downloaded my return from Turbo Tax, Schedule D was included.  The YES box was checked for line 20 which reads, "Complete Qualified Dividends and Capital Gain Tax Worksheet".  Unfortunately, that worksheet was not included with my download.  I would really like to have it, since I believe that is what determined my TAX on line 16 of my 1040.

My question is how can I download that worksheet.  I wasn't included .

Thanks,

@jerry88rie

How do I download my Qualified Dividends and Capital Gain Tax Worksheet? It was not included with the 1040.

@jerry88rie 

Use this procedure -

To access your current or prior year online tax returns sign onto the TurboTax website with the User ID you used to create the account - //myturbotax.intuit.com/

When you sign onto your online account and land on the Tax Home web page, scroll down and click on Add a state. 

This will take you back to the 2021 online tax return.

Click on Tax Tools on the left side of the online program screen.  Then click on Print Center.  Then click on Print, save or preview this year's return.  Choose the option Include government and TurboTax worksheets

How do I download my Qualified Dividends and Capital Gain Tax Worksheet? It was not included with the 1040.

Thanks @DoninGA !!!

That was the trick.  Got everything I need.

Appreciate the help.

Jerry

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Do you pay capital gains tax on qualified dividends?

Dividends can be classified either as ordinary or qualified. Whereas ordinary dividends are taxable as ordinary income, qualified dividends that meet certain requirements are taxed at lower capital gain rates.

How do you figure tax on qualified dividends?

Qualified dividends are taxed at the same rates as the capital gains tax rate; these rates are lower than ordinary income tax rates. The tax rates for ordinary dividends are the same as standard federal income tax rates; 10% to 37%.

What is the difference between qualified dividends and capital gains?

Key Takeaways. Capital gains are profits that occur when an investment is sold at a higher price than the original purchase price. Dividend income is paid out of the profits of a corporation to the stockholders. As a practical matter, most stock dividends in the U.S. qualify to be taxed as capital gains.

Do I need to complete the 28 rate gain worksheet?

You will need to complete the 28% Rate Gain Worksheet in the Schedule D Instructions. Then, you take your short-term gain or loss and net it against your long-term gain or loss. Gains. If the result is a gain, it must be reported on Line 13 of the 1040 Form.

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