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Investors & landlords
Can I ask another example? I feel like I am being taxed on a long term capital gain when I should not.
Example: AGI is $45,430 and I am a single filer. My long term capital gain is $4,385 for a total of $49,815 less standard deduction of $12,400 equals $37,415 which puts me under the $40,000 in taxable income. Yet in the Premier Edition I am being taxed on 100% of the $4385 in LT Capital Gain. I looked at the capital gain worksheet in Forms and the gain is classified as "L". What am I missing?
‎February 19, 2021
8:43 AM