I sold a substantial holding in Nvidia stock last year and my reading of the rules is that if my wife and my taxable income is under approximately $95000 I owe no capital gains taxes on the sale. My question is whether or not the sale proceeds count as part of my taxable income or is that considered separate from my taxable income? If the stock proceeds are not part of my ordinary taxable income, that suggests I own nothing on the sale and while that would be nice, I find it difficult to believe.
