Qualified Dividends and Capital Gain Tax Worksheet
Last year my daughter earned approx. $1,300 in wages and about $4,000 in investment income. She had a payment due of approx $500. A couple of months later I received a refund from the gov't for about $300 with an explanation the amount in Line 28 of my 1040a was incorrect and that I should have used the Qualified Div and Capital Gain Tax Worksheet which generally applies a lower rate. Turbo Tax appears to be calculating her taxes the same incorrect way this year. What can I do to ensure the lower tax rate is applied as Turbo Tax doesn't appear to be doing it for me. Any help that could be provided would be appreciated.
(Asked 04/12/09, Views 11)