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Deductions & credits
Your standard deduction PLUS the fact that long term capital gains are taxed at a favorable rate.....and aren't taxed AT ALL below a certain level......will result in you paying no income tax to the feds. Forget about the 28% thing because that rate is for collectibles and you've just got a bunch of personal stuff that you "collected" over the years and NOT stuff like antiques or artwork or gold coins and stuff like that.
‎April 25, 2021
2:31 PM