Capital Gain Tax
I have a question about Long-Term Capital Gain Taxes. I used the calculator (https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates) with this info:
purchase price: $30,000 sale price: $60,000 2021 taxable income (excluding capital gain): $30,000 more than 1 year single
How do you calculate the $10,400 portion that is taxed at 0% rate and the $19,600 portion that is taxed at 15% rate? I thought that the entire capital gains were taxed at the same rate once you are located in a bracket (in this case the $60,000 total taxable income in the 15% bracket). Thanks in advance.
Please sign in to leave a comment.