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pancak3d t1_j2f6603 wrote

Reply to comment by TheyReadALot in Does Capital Gains Tax apply to all gains, or only those over the income threshold for that rate? by TheyReadALot

Correct. The standard deduction reduces your taxable income.

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TheyReadALot OP t1_j2f6y6d wrote

Woo hoo! This makes things much less stressful as I'm trying to figure out our tax situation and adds SO much clarity. Thanks so much for your help.

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