Zero rate ap gains for 2008, please check me

[Lsbcal]

I'm thinking now about the best usage of the 2008 capital gains tax in the 15% and under bracket. As I understand it, in 2008 the cap gains tax is *zero* for the 15% and under bracket. Here is a numerical example(numbers are in thousands):

 65    approximate top of 15% bracket in 2008 for couple
-10    income (could be dividends)
  6.6  exemptions for two (these are 2006 numbers)
 15    itemized deductions
-------------------------
 76.6  the max amount of cap gains couple can take in 2008 at zero rate

Does this look approximately right?

 

[SecondCor521]

I think you're approximately right.

I found the following numbers, assuming MFJ:

65,100
(10,000)
7,000
15,000

Which would make the number about $77,100 if I did the math right.

Depending on the nature of the $10,000 in income, that would either be taxed at ordinary rates or capital gains rates if they were qualified dividends.

IANAA.

2Cor521

 

[Lsbcal]

Thanks for checking me out on this!