So I calculated my taxes in Turbo Tax without Keying in My Stock Sales. It showed I would have a refund of approximately $2,000 Federal. I then added in my stock sale and was expecting it to reduce my refund by exactly 15% of the profit from the stock sale (long term gains). Instead, it added an additional $3,000+ more than I expected to the amount I now owe. I was under the impression capital gains does not effect your ordinary income tax bracket, so I am a bit confused how this can happen. What other impacts does Capital gains have on your taxes. I thought it was Just simply Profit x 15%. FYI, i'm in the 22% income bracket and this is all long term gains.
