Yes the standard deduction reduces your taxable income so your calculation on the $17,600 is spot on.
The New York state single standard deduction is $8,000. (2020 standard deductions - Government of New York)
Your capital loss applies to your total income- so for example, your $30,000 income becomes $27,000. Technically it does not get grouped with the other deductions (because the deductions are subtracted from the total income- the capital loss is on the tax return as a negative amount, I know same end result).
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
