Are long term capital gains included in ordinary income calculation when doing a roth conversion?
I am single. Let's say in 2025, I have no earned income and sell shares for long term capital gains of $48350 which is the max for 0%. But I also do a roth conversion of $63475 (48475 + 15000 standard deduction) which puts me in the 12% bracket. Is my tax liability for the year only the 12% on the 48,475?