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long term gain calculation
I am seeing a contradiction using the Premium web product. On one hand, under the question "How does the net long-term gain of $8315 affect my return?", the following answer appears:
"Long-term capital gains are generally taxed at preferential tax rates. Based on the information you've provided so far, the $8,315 will be taxed at 0%. This means you didn't have to pay any capital gains taxes on this amount. Congrats!". This seems to follow IRS rules at my income level as I understand them, with room to spare.
However, the same box 2a entry is creating an obvious tax due in the calculation. I have removed and replaced the entry to be sure. What gives?
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March 5, 2025
8:39 AM