Question
Long term capital gains
Hello, I have a question about Fed LT capital gains. My income this year will be low due to a longer period of unemployment. I am considering realizing some LT capital gains since my understanding is that if my taxable income is below $44,625 I would not owe any Fed LT capital gains, is that correct?
In a simple example would the calculation go something like if my W2 income + other income (unemployment) + LT capital gains - standard deduction < $44,625, then I would not owe any Fed LT capital gains tax?
Thank you!
