Do I need to pay capital gain tax if my income is less than 16000?

[DoninGA]

No.  But the gains on the sale will be added to your total income.  The gains are on the Form 1040 Line 7

[DianeW777]

It depends. It's not likely since you could remain in the zero (0) percent bracket. You  must however include the capital gains in your income when you file your tax return.

Net capital gains are taxed at different rates depending on overall taxable income, although some or all net capital gain may be taxed at 0%. For taxable years beginning in 2024, the tax rate on most net capital gain is no higher than 15% for most individuals.

A capital gains rate of 0% applies if your taxable income is less than or equal to:

• See all filing statuses and income in the link here.

@rahulshakeela