question on long term capital gains
I have a question about long term capital gain taxes.
Consider this scenario for year 2016.
Sell a taxable mutual fund in 2016, with ST gains of 1K and LT gains of 19K.
Withdraw 30K of IRA in 2016. IRA is tax-deferred IRA, and withdrawals are taxable.
All numbers were rounded to thousands.
ST gain 1K
LT gain 19K
IRA withdrawal 30K
Total Income 90K
Personal exemption 8K
Standard deduction 12K
Taxable income 70K
If tax on LT is 0, then taxable income is 51K.
Can I take it that my 19K has 0 tax on it? So the 0% and 15% tax rates apply to the appropriate portions of 51K?