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Single taxpayer, standard deduction; sole income item is securities capital gain of 36,000. Cap Gain Worksheet has 0 tax as does Form 1040. Why does return show 0 tax?

Forum|Forum|7 years ago
June 6, 2019
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Best answer by AnthonyC

Capital gains tax rates are often lower than regular tax rates, and long-term capital gains rates can be as low as 0% for those in the 10 and 15% tax brackets. So, as a single taxpayer with that as your only income item, you would qualify for this preferential rate treatment of 0% assuming it was a long-term capital gain.

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AnthonyCAnswer

Employee

Capital gains tax rates are often lower than regular tax rates, and long-term capital gains rates can be as low as 0% for those in the 10 and 15% tax brackets. So, as a single taxpayer with that as your only income item, you would qualify for this preferential rate treatment of 0% assuming it was a long-term capital gain.