Question regarding standard deduction & capital loss

[Francisco2019]

Hi, I want to know that does the deduction also drops you to a lower tax bracket. For example: my income is $30,000 for 2020. My original tax bracket is  10% for up to $9,875 and the rest is 12%. So the $12,400 federal standard deduction lower my $30,000 taxable income to $17,600 taxable income and my tax bracket will be $9,875 (10% Tax) and the rest is 12% tax is that correct? 

also, regarding state standard deduction? So the $12,400 is only for federal the state has its own standard deduction right and if so what is New York states standard deduction?

lastly, regarding capital loss. So I can use $3,000 to offset my income. So can that be combined with other deductions like the standard deduction? 

[MaryK4]

Yes the standard deduction reduces your taxable income so your calculation on the $17,600 is spot on.  

The New York state single standard deduction is $8,000. (2020 standard deductions - Government of New York)

Your capital loss applies to your total income- so for example, your $30,000 income becomes $27,000. Technically it does not get grouped with the other deductions (because the deductions are subtracted from the total income- the capital loss is on the tax return as a negative amount, I know same end result).

[Francisco2019]

So federal standard deduction is $12,400 so I’ll basically pay taxes on the $17,600 for federal tax. Then, state standard deduction are separated so NYS standard deduction is $8,000. So for New York State My taxable income is $22,000 is that correct?

Lastly, the capital loss deduction  applies to both the federal and state right?

[MaryK4]

Yes, your federal taxable income will be $17,600

For New York, there are some state additions and subtractions that could affect your taxable income, but basically yes- your New York taxable income is higher,

Yes, the capital loss is treated the same for New York and federal taxes. 

@Francisco2019