Capital Gain

[Crowbob]

Ok. Simple question for the bean counters out there:

For tax year 2017 the threshold under which ordinary income for a single filer to pay 0% capital gain taxes is $37,950.

So does this mean a single filer whose regular income is under 37,950 pays no CG taxes, or does this mean the sum of CG AND the ordinary income for the tax year the gain was realized must be below 37,950 to get the 0%?

If the latter, it doesn't seem like very many people will get the 0% rate.

[stomachmonkey]

It's combined.

But combined after deductions, taxable income.

So if income was $37,000 with $5,000 in deductions for a taxable of $32k you can realize $5,949 at 0%

[ckelly78z]

But, but the snowflakes that lobbied for $15 an hour at their deadend jobs, won't be able to claim very much income under this rule ? Evidently, something else for them to complain about ?

[Crowbob]

Originally Posted by stomachmonkey

It's combined.

But combined after deductions, taxable income.

So if income was $37,000 with $5,000 in deductions for a taxable of $32k you can realize $5,949 at 0%

Thank you.