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mmike0
Level 2

long-term capital gain tax when no other income

Based on long-term capital gain buckets, if I have no other income (or only $10000 other income), and have $25000 long-term capital gain, does this amount is considered as tax-free? 

2 Replies
rjs
Level 15
Level 15

long-term capital gain tax when no other income

Yes, for the amounts that you gave, there would be no tax on the long-term capital gain.

 

Mike9241
Level 15

long-term capital gain tax when no other income

to be more specific there would be no Federal taxes but there could be state income taxes if your state has one

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