I thought I knew the formula for capital gains but I am getting something different. If I make 100k from a sale in 2022 and had no other income as a single filer, would the calculation be this:
100k - 41,675 (0% Rate) = 58,325 - 12950 (Standard Deduction) = 45,375 x .15 (15% Rate) = 6,806.25
This is what I get though: 6,642
Then CO State taxes calculated like this:
100k - 12950 (Standard Deduction) = 87,050 x .044 = 3830.2
This is what I get though: 3,837
Where am I going wrong? Or am I right?
