scapjm
Returning Member

Get your taxes done using TurboTax

1040 line 7 says Capital gain or loss  - schedule D required and it does say the capital gain amount.

And that number is included in the sum of total income on lines 9 and 11.

Line 14 has our standard deduction and then line 15 is the "taxable income"; the difference of the total income and the standard deduction.

So the "taxable income" , Line 15 and  including the capital gain, is still under 93k . The threshold for us is 94,050 for capital gain tax. The capital gain, therefore has 0% tax liability but the overall fed income tax liability went up as soon as I entered the 1099B.  the amount is an inexplicable amount.... it's not enough to be taxed at either our bracket's regular tax no the capital gain tax.