what if comparison question

3 replies
10 views

What if comparison… Actual includes a 30,000 capital gain. In “what if” for same year, I removed the

capital gain. Taxable income is reduced by the $30,00o. Refund stays the same.. How/why would that be?

Set account up anew without the cap gain and same refund is reflected as in the what if scenario.

Refunds are the same. What am I overlooking? ((Granted, it’s a day before the deadline and I am not as

“fresh” as I should be but it doesn’t make sense to me...

ProSeries Professional

L

linduca1216Author

Level 6

I think I have the answer!

Key Strategies to Minimize or Avoid Capital Gains Tax Over 65

Target the 0% Long-Term Capital Gains Bracket:
If your overall taxable income is low enough, you can pay a 0% federal tax rate on long-term capital gains.
- For single filers in 2026, the 0% bracket applies to taxable income up to $49,450.
- For married couples filing jointly, the 0% bracket applies to taxable income up to $98,900.
- When factoring in standard deductions and senior bonus deductions, a married couple aged 65 or older can sometimes realize up to $146,400 in combined income and long-term capital gains while owing 0% federal tax on the

Just-Lisa-Now-

Intuit Community Champion

Ive seen it happen too, its a head scratcher at first, but it can happen. I found a good worksheet that shows how the income is taxed in each bracket and cap gains, the D Tax Summary is great for stuff like this.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

L

linduca1216Author

Level 6

Thanks! That would have shown me what happened...

Sign up

Login with SSO

Let's get you signed in

Login with SSO