Qualified Dividends and Capital Gain Tax

The information from Form 1099-DIV Dividends and Distributions and Form 1099-B Proceeds From Broker and Barter Exchange Transactions can easily be entered into the TaxAct® program in the Investment Income section of the Federal Q&A, or directly on the forms where applicable.

The Tax Summary screen will then indicate if the tax has been computed on the Schedule D Worksheet or the Qualified Dividends and Capital Gain Tax Worksheet.

To review the Tax Summary in the TaxAct program:

  1. Click the vertical three-dots between the federal/state items and the shopping cart in the gray bar at the top of the screen, then click Refund Snapshot for the summary to appear in a new window.
  2. Scroll down, then click Summary View for a breakdown.
  3. If the tax was calculated on either of these worksheets, you should see "Tax computed on Qualified Dividend Capital Gain WS" as one of the items listed.

See Topic No. 409 Capital Gains and Losses for additional information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.