Deductions & credits

Okay, thanks for the answer. Another question maybe you can help. How does the capital gains tax work? Are you taxed a percentage on the amount of gain or is it the total gain you have to pay? Our gain is only about $5500.00 but when I entered the amount it changed my refund from +2750 to -1371. I saw the on the tax rates and our income does not exceed $80,000 which is set at 0%.

 

Thanks