In 1971, John and Jane have taxable income of $ 8,000 each (equal to about $ 45,000 each today) for total taxable income of $ 16,000 on their joint tax return. (dinesentax.com)
A tax deduction is permissible for investments from total taxable income in a specific instrument and this exemption can be claimed by a taxpayer under section 80C. (policybazaar.com)
That 0 % rate on long - term capital gains is a handsome tax break enjoyed by those whose total taxable income falls within the 10 % federal income tax bracket, as well as almost everybody in the 12 % bracket. (humbledollar.com)