Quantcast
Channel: Bogleheads.org
Viewing all articles
Browse latest Browse all 4434

Personal Finance (Not Investing) • 1099-DIV income taxed at 85%?

$
0
0
I cannot be sure what is going on, but you probably hit one of those tax cliffs that everybody writes about. These are often caused by loss of tax credits for income going over a limit.

See, e.g., viewtopic.php?t=295815

One hint I can say is: "Please read your Form 1040!" That is, don't talk about TurboTax.
You are also going to have to look and understand the internal tax worksheet that TT uses. This is used to actually determine your taxes given your taxable income. This calculation is not on the tax forms printed for mailing. H&R Block uses a worksheet inside schedule D, even if schedule D is not submitted. Perhaps someone else reading this thread can tell you how to find it in TT.

Statistics: Posted by prd1982 — Thu Feb 29, 2024 3:14 pm — Replies 6 — Views 191



Viewing all articles
Browse latest Browse all 4434

Trending Articles



<script src="https://jsc.adskeeper.com/r/s/rssing.com.1596347.js" async> </script>