Alert – Green Alert Capital Gains Tax Rate
One reason the tax calculated by the TaxAct® program may be different than when you are viewing in the IRS tax tables is because long-term capital gains and qualified dividends have a lower tax rate than other sources of income. For information specific to the return, review the Alerts in the program and it will explain these rates to you in more detail:
- From within your TaxAct return (Online or Desktop), click Review.
- Click on Alerts and follow the instructions on the screen
- If the tax calculation on your return is subject to the special rate you will see a Green Alert screen titled Explanation: Schedule D – Tax Calculation which states ‘You have benefited from the lower capital gain tax rates…’
To view the tax calculation on the Qualified Dividends and Capital Gain Tax Worksheet which shows the calculation of the tax amount that flows to Line 44 of Form 1040:
- From within your TaxAct Online return, click Print Center in the left column.
- Click Custom
- Click the checkbox(es) to the left of what you wish to print (the top section contains individual forms or schedules and the bottom section contains documents or worksheets). You may need to scroll down in the section to locate the item.
- Click Print and then click the PDF link. Click the printer icon or the save icon (available when you hover your mouse over the bottom of the PDF form) to print or save the PDF copy.
Note. If you see a message indicating you have not paid your return fees, click the View/Pay link, which will direct you through the Paper Filing steps. Continue through the screens until you have processed the payment for your product fees and then repeat the steps to print.
- Start your TaxAct Desktop program
- Click the Forms button in the top left corner
- Expand the Federal folder, and then expand the Worksheets folder
- Scroll down and click ‘+‘ next to Schedule D – Qualified Dividends and Capital Gain Tax Worksheet – Form 1040 – Line 44
- Double click the form listed and then click the pink Printer Icon above the worksheet
In the print dialog box that appears you are able to choose if you wish to send the output to a printer or a PDF document.