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Capital gain taxes

Rickey — Mon, 09 Mar 2026 05:23:36 GMT

I am going to have along term capital gain of $47,000 this year

My taxible income is $24,000

filing jointly

As I understand it.I should be taxed at 0%on the capital gain is that correct?

Thanks, Rick

Re: Capital gain taxes

rjs — Mon, 21 Feb 2022 16:51:18 GMT

If you have long-term capital gain of $47,000, the total of all your other income is $24,000, and you are filing as married filing jointly, then yes, the tax rate on the long-term capital gain will be 0%.

The taxable income that is used to determine the rate on long-term capital gain includes the capital gain. Taxable income is on Form 1040 line 15.

Re: Capital gain taxes

ColeenD3 — Mon, 21 Feb 2022 16:53:43 GMT

Yes. Please see the Capital Gains Tax Tables. This LINK also has a calculator that you can use.