Hi everyone- I read this article with great interest: https://www.cnbc.com/2023/11/14/how-much-you-can-make-in-2024-and-still-pay-0percent-capital-gains-t...
I am confused. Does this mean that if my 2024 taxable income is less than $47,050 then I won't pay any LTCG's, regardless of the amount of the gains?
In my specific case for the 2024 taxable year I have Social Security and Pension minus the $16,150 Standard Deduction that will put me around $38,500. I won't take my RMD until 2025 so if this is true, it would be a one-time event in 2024. I do have a handful of stocks in a non-retirement account that I have held for years so the gains are significant (for me, maybe not for others).
As always, thanks in advance for any light you can shine on this subject.
TPM
