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Capitol Gains
Old 06-11-2019, 10:04 AM   #1
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Capitol Gains

I am in the process of selling some stock from my taxable account. As a married filing jointly this will put me about 1000 dollars over the income limit of 78750 for the 0% capitol gains rate. Is it my understanding I will only pay 15% on 1000 dollars of the sale?
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Old 06-11-2019, 10:13 AM   #2
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Yes... But any extra income over $78950 MFJ will be in the 22% tax bracket. So in practice you will pay 15% on the capital gain PLUS 10% for the bracket rate difference.
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Old 06-11-2019, 10:15 AM   #3
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The Capitol is a building in Washington, DC.
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Old 06-11-2019, 10:53 AM   #4
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You are taking deductions into account?
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Capitol Gains
Old 06-11-2019, 11:28 AM   #5
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Capitol Gains

Quote:
Originally Posted by HawkeyeNFO View Post
The Capitol is a building in Washington, DC.
From the spelling of the title my first thought was "This thread must be about the Congressional pay raise they're pushing through the House."
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Old 06-11-2019, 12:21 PM   #6
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Originally Posted by fosterscik View Post
Yes... But any extra income over $78950 MFJ will be in the 22% tax bracket. So in practice you will pay 15% on the capital gain PLUS 10% for the bracket rate difference.
No. If one had ordinary and preferenced income and was in total at the top of the 0% capital gains bracket and added $1000 of ordinary income then the marginal tax rate would be 27% on the first $200 and 37% on the remainder because the ordinary income is taxed at ordinary rates and also pushes preferenced income from 0% to 15%.

In what the OP writes, it is just adding preferenced income so it would be 15% as he writes in the OP.
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Old 06-11-2019, 12:24 PM   #7
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The Capitol is a building in Washington, DC.
Lol, so true.
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Old 06-11-2019, 03:05 PM   #8
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Its the principal of the thing that effects how your going to get their.
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Old 06-11-2019, 05:02 PM   #9
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Its the principal of the thing that effects how your going to get their.
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Old 06-13-2019, 08:07 AM   #10
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The Capitol is a building in Washington, DC.
Your comment sounds like a thinly veiled insult. Where is the moderators.
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Old 06-13-2019, 08:14 AM   #11
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Its the principal of the thing that effects how your going to get their.
LOL...I sea what you did they're
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Old 06-13-2019, 08:17 AM   #12
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Watch out, the spelling police are out today.....
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Old 06-13-2019, 08:20 AM   #13
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Your comment sounds like a thinly veiled insult. Where is the moderators.
Good chance they is being detained by the grammer poelease.
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Old 06-13-2019, 08:31 AM   #14
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Good chance they is being detained by the grammer poelease.
WHAT?
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Old 06-13-2019, 08:33 AM   #15
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Originally Posted by ripper1 View Post
Your comment sounds like a thinly veiled insult. Where is the moderators.

Do you mean "Where ARE the moderators?"
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Old 06-13-2019, 08:35 AM   #16
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Do you mean "Where ARE the moderators?"
Thank you. I stand corrected....
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