Thank you, so much @NCperson . It does. I also appreciate you updating me on the tax rate.
Forgive me, but to clarify... for your example, you didn't factor in the loss on the second stocks sold. If I sell two different stocks, one with a loss and one with a gain, do I understand correctly that the "income" would only be the total amount of the gain?
Example: $30K taxable federal income. Pretend I sell stock A for $20,000 (with a $10,000 GAIN), AND, I also sell stock B for $20,000 (but, with a $10,000 LOSS).
While I sold and cashed out $40,000 total, my total gain in this example is $0, so wouldn't my NC tax be $0? (For NC taxable income, wouldn't the loss be deducted from the gain, leaving me with $0 in income to be taxed?)
Thank you so much
