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Get your taxes done using TurboTax
if your entire income consisted of $90K in wages and $8.5K in long-term capital gains even using the standard deduction that $8.5 is taxed a zero percent. gain/loss from sale of inherited property is automatically long-term but you must indicate in Turbotax it's inherited from the date acquired box drop down options. when you are done entering all your data look at the qualified div and capital gain worksheet
line 9 shows amount taxed at zero
line 17 the amount taxed at 15%
line 20 amount taxed at 20%
your advisor was only estimating
‎January 30, 2023
12:23 PM
1,775 Views