Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 20, 2020 2:09:25 PM

Does the standard deduction apply to short-term capital gains? ie If my sole income was $5,000 in short-term capital gains, would it be covered by my standard deduction?

0 2 968
2 Replies
Expert Alumni
Mar 20, 2020 2:28:39 PM

Yes, the standard deduction will be subtracted from your income including your capital gains.

Level 15
Mar 20, 2020 7:05:51 PM

No it would not if you are being claimed as a dependent on someone else's return.