Do you qualify for 0% capital gains tax in 2023?

For 2023, you may qualify for the 0% long-term capital gains rate with taxable income of $44,625 or less for single filers and $89,250 or less for married couples filing jointly. The rates use "taxable income," which is calculated by subtracting the greater of the standard or itemized deductions from your adjusted gross income.

How much is capital gains tax in 2024?

The long-term capital gains tax rates for 2024 are 0%, 15% and 20%. The short-term tax rates range from 0% to 37%. Is the capital gains tax 15% or 20%? If you sell your asset after owning it for more than a year, your tax rate will be 0%, 15% or 20%. The rate depends on your filing status and income level. How do I avoid capital gains tax?

What are the taxable income thresholds for 2023?

The IRS has increased the taxable income thresholds for the 0%, 15% and 20% long-term capital gains brackets for 2023. With higher standard deductions and taxable income limits for capital gains, it’s more likely you’ll fall into the 0% bracket, experts say.