New to Taxable Accounts- Capital Gains Math

[mtnman125]

Could somebody explain to me like I'm a 10 year old, how the calculation for Capital Gains works? Specifically Long Term.

My understanding is:

Ordinary Income ($60k) - Deductions ($24k MFJ)= $26k, so any LTGC between $26k and $77,400 would be at 0%.

[terran]

Ordinary Income ($60k) - Deductions ($24k MFJ)= $26k, so any LTGC between $26k and $77,400 would be at 0%.

Sounds right.

[MDM]

Ordinary Income ($60k) - Deductions ($24k MFJ)= $26k, so any LTGC between $26k and $77,400 would be at 0%.

Yup, pretty much.

Currently the 0%/15% boundary for LTCG is $77,200 - not the $77,400 which is the boundary between the 12%/22% ordinary income brackets.  Whether that will be changed so the boundaries coincide as they had with the 15%/25% brackets is anyone's guess.