A couple hours reading articles has left me uncertain, I've found conflicting answers to what I thought would be a simple query:
In an example where taxable income is $50,000, composed of 100% longterm capital gains, is the first $40,400 taxed at the 0% rate, and the remainder at 15%?
Or, is the entirety taxed at the 15% rate because taxable income exceeded the 0% tier threshold?
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