RM_L
Level 2

Deductions & credits

Thank you!  For capital gains, is my understanding correct, that my tax liability is $0 (for Single taxpayer), per the Capital Gains Tax Rate of 2024, which is 0% tax rate for capital gains up to $47,025?

 

So is the tax liability of $800 based on the ordinary dividends of $29K, less the standard deduction of $14600?  So is the tax of $800 calculated based on $14400 (i.e. $29K less $14600)?  Is this treated as ordinary income then, and not included in the $47,025 threshold?