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Investors & landlords
Your "taxable income" is after your standard or itemized deductions. So, in the example above, if you are Married filing jointly and your total income is $70,000; your taxable income is $45,600 (70,000 - 24,400 std deduction). So, the first $33,150 of long term capital gains would be taxed at 0%,
‎November 14, 2019
5:24 AM