Just to make sure I am understanding this correctly.
For the 0% LTCG rate. The income max cutoff includes the LTCG, does it not?
So, if the cutoff is $40K, and I have $20K income and $19K LTCG I am OK and the LTCG is taxed at 0%
But if I have $39K income and $19K LTCG that puts me over the threshold so the LTCG is taxed at 15%.
Thanks.
For the 0% LTCG rate. The income max cutoff includes the LTCG, does it not?
So, if the cutoff is $40K, and I have $20K income and $19K LTCG I am OK and the LTCG is taxed at 0%
But if I have $39K income and $19K LTCG that puts me over the threshold so the LTCG is taxed at 15%.
Thanks.