Hal_Al
Level 15

Deductions & credits

Yes and no. You are required to file and report the capital gains on your tax return, if your total income (including the capital gain) is more than $10,400 (Single Filing status).

Long term capital gains (property owned more than 365 days) are taxed at 0%, effectively up to up to $48,000, for a single person  with no other income.

Short term capital gains are taxed as ordinary income. The first $10,400 will be tax free (since you have no other income), the next $9325 at 10%, after that 15%. Higher rates apply above $37,850.

The numbers will be different if you are somebody's dependent.

You can use this tool to estimate your tax: https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1