I have $6,705 of long-term capital gains and am married filing jointly with a taxable income of approximately $26,000. These gains were not reported on my 1099 because they're from a Noncovered security, but they were on my December statement so I think I'm required to report them. When I report these capital gains on Schedule D, they get added to my 1040-SR and increase the amount of taxes I owe by about $600. I thought that long-term capital gains would not be taxed at my income level and would not affect the amount of tax I owe this year. Can someone help me understand this? Is this a glitch in TurboTax? Or is there a reason these capital gains are increasing my tax liability even at my income level.
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Thank you for letting me now, Susan!
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