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Deductions & credits
One last thing, if I may...
On the page for Make a Capital Gain Election, if I choose to elect $16,254 of my qualified dividends to Cap Gains, then it tells me "Congrats, you qualify for 35K deduction!" but at the same time my Fed Tax Due jumps a $1000 immediately. Do I really need that deduction (which I thought are to reduce the taxes due) if I have to pay more in taxes?
‎April 14, 2024
2:40 PM