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 Apr 17, 2022 3:29:05 PM

Why do i see a refund on my pending return when i owe capital gains?

0 1 140
1 Replies
Expert Alumni
Apr 17, 2022 4:23:10 PM

If your taxable income is less than or equal to $40,400, then some or all of the net capital gain is taxed at 0%. If that is your taxable income, there is no tax on the capital gains.

 

The tax rate on most net capital gains is no higher than 15% for most individuals. Some or all net capital gain may be taxed at 0% if your taxable income is less than or equal to $40,400 for single.

  • A capital gain rate of 15% applies if your taxable income is more than $40,400 but less than or equal to $445,850 for single