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Get your taxes done using TurboTax
no because the capital gain adds to your taxable income and from that the "threshold" is subtracted, to compute the tax on capital gain
not sure what year you're referring to or how you arrived at that standard deduction
anyway using your figures you have $89,500 of taxable income
from that the threshold (2022) of about $83,500 would be subtracted leaving taxable capital gains of about $6000 taxed at 15% =$900
this also assumes the entire $30K of capital gain is long-term. short term is taxed like other ordinary income
the above numbers are approximate and used for simplicity.
‎January 6, 2023
9:52 AM
398 Views