DawnC
Expert Alumni

Get your taxes done using TurboTax

Is your taxable income all from long-term gains?  If you held on to your stock for more than one year, it’ll be taxed at the long-term capital gains tax rates of 0%, 15% or 20%, depending on your income.   Look at your Form 1040/1040SR Wks - worksheet, under Line 15, Tax Smart Worksheet, what line is the X on?   That is where you can see how the $0 was determined.

 

Do I need to file a federal tax return?  You probably do need to file, but check this chart and the list of situations that require filing.   The numbers are gross income, not taxable income.  

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