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July 15, 2021
Question

long-term capital gain tax when no other income

  • July 15, 2021
  • 2 replies
  • 0 views

Based on long-term capital gain buckets, if I have no other income (or only $10000 other income), and have $25000 long-term capital gain, does this amount is considered as tax-free? 

    2 replies

    rjs
    Employee
    July 15, 2021

    Yes, for the amounts that you gave, there would be no tax on the long-term capital gain.

     

    July 16, 2021

    to be more specific there would be no Federal taxes but there could be state income taxes if your state has one