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?
02968
2 Replies
MinhT1
Expert Alumni
Mar 20, 2020 2:28:39 PM
Yes, the standard deduction will be subtracted from your income including your capital gains.
Critter
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.