Hello,
I wanted to see if I'm doing this correctly with some hypothetical numbers for my 2020 taxes:
Say I have $45K gross income from rental property and employment income.
After subtracting
1) $3K expenses from my rental and
2) $7K from an IRA contribution, as I'm over 50.
I have $35,000 income.
In this case, I will have 0% capital gains taxed owed on a long-term stock sale I made...right (since I'm under the $39,375 limit)?
Thank you!
