Were we in the 15% bracket or not ? For tax year 2015 we had an income of $64,000. Besides the $64,000 we sold some mutual funds and the capital gains from that was $98,000. I was under the impression that since we (married filing jointly) were under $74,900 (15% tax bracket) on income before the capital gains, that we wouldn't have to pay any capital gains tax, but our tax preparer said we did. Was that correct?
Thanks |