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Assuming you take the standard deduction, Taxcaster says you would owe $71K in Federal income tax if you are single, and about $67K if you are married filing jointly (you'd be in AMT territory).
I don't have an estimate for California but CA taxes long term capital gains the same as regular income. Looks like most of your $400K income would be taxed at 9.3%.
Assuming you take the standard deduction, Taxcaster says you would owe $71K in Federal income tax (AMT) if you are single, and about $67K if you are married filing jointly.
Nice and plus state I assume? Does it make sense to you?
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