0% Capital gains rate

[carlepetrson]

I have a client with less than $44,000 taxable income so they should be eligible for the 0% long term capital gains rate.  How do I make sure this is applied in Pro connect?  I have never had this for another client.  How is this supposed to be shown on the return?  The taxpayer has approximately $15,000 in long term capital gains.  The 15,000 is right now coming up line 7 of the Form 1040.  No Schedule D.  Should I press non-taxable for federal?  But then the long-term capital gains show up nowhere on the return.  I could force the Schedule D.  I do not think the LT capital gains should show up on line 7 because then it would limit the benefit of the standard deduction.  Any help? 

[sjrcpa]

They are still taxable income, even if the tax rate is zero.

Leave the Sch D as is. The software will do the calculations, and you can check them.

EDIT: If the only capital gains are capital gain distributions, then Sch D is not required.

[abctax55]

Most software has a schedule showing the tax computation.

If your software doesn't, get out a pencil & work thru the Sch D math manually.

The LTCG are not "non-taxable" so marking them as such would be wrong.

The LTCG ARE taxed, they are just taxed at zero.

[Accountant-Man]

Sch D worksheet, capital gain worksheet.