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?
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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?
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?
Yes, the standard deduction will be subtracted from your income including your capital gains.
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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?
No it would not if you are being claimed as a dependent on someone else's return.
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