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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?
‎April 4, 2025
4:40 PM