The first number is the maximum income you can have to receive a 0% capital gains tax rate. Long-Term Capital Gains Tax BracketsĬapital gains tax is a flat rate based on your income rather than a scaling tax bracket. You pay 10% and 12% on the amounts of your income that fill those brackets. If you’re in the 22% bracket, you only pay 22% on your income above the minimum for that bracket. Your tax rate is based on your taxable income after your standard deduction and other deductions. Married Filing Jointly and Qualifying Widow(er) Tax Brackets Tax Rate Tax Brackets Single Filer and Married Filing Separately Tax Brackets Tax Rate This is the number used to find your tax bracket and calculate your income taxes. Taxable income (line 15): Your AGI minus additional deductions like itemized deductions.AGI is used to see if you qualify for certain deductions or credits. Adjusted Gross Income or AGI (line 11): Your gross income minus certain deductions.Total income (line 9): Your total or gross income from all sources before deductions.There are a few other special situations where you may need to file. Had income tax withheld and want your refund.
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