I have 0 Taxable income so I dont have to pay any taxes but have qualified dividends. I do the worksheet line 44 but I keep getting 0 for taxes after I do it. Does this sound right?
2007-11-09 03:00:42 · 5 answers · asked by wo123 2 in Business & Finance ➔ Taxes ➔ United States
If you have qualified dividends it should be added to line 9b (2006, "see page 23 for details").
2007-11-09 03:48:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
That is correct. Qualified dividends were added back before the AGI was figured. The worksheet is just enabling you to tax qualified dividends at a lower rate than what your normal income would be taxed at.
2007-11-09 05:54:02 · answer #2 · answered by mplsundin 4 · 0⤊ 0⤋
Yes. The worksheet will reduce your taxes on your taxable income because of the qualified dividends included in your taxable income. If you have no taxable income, there is nothing to reduce.
2007-11-09 07:19:59 · answer #3 · answered by ninasgramma 7 · 0⤊ 0⤋
Yes. If you have zero total taxable income, you won't have tax on the qualified dividends.
2007-11-09 03:49:38 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
decision a million) on your question is the nicely suited answer. The worksheet computes your earnings tax once you have capital constructive properties. The worksheet is used fairly of the tax tables. Capital constructive properties are taxed at a decrease value than basic earnings. the quantity on line 19 is a discounted tax from what seems in the table to your earnings (what you get in case you in simple terms seek for the tax from Line 40 3 of the 1040). it particularly is by way of fact capital constructive properties are taxed at 5% (for taxpayers in the 15% bracket or decrease) or 15% (for taxpayers in the 25% bracket or bigger).
2016-12-08 16:42:52 · answer #5 · answered by Anonymous · 0⤊ 0⤋