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?
Capitol Gains
- Thread starter ripper1
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fosterscik
Full time employment: Posting here.
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.
HawkeyeNFO
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The Capitol is a building in Washington, DC.
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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."
pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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.
JustCurious
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Lol, so true.
GalaxyBoy
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Its the principal of the thing that effects how your going to get their.
joylesshusband
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ripper1
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Your comment sounds like a thinly veiled insult. Where is the moderators.
RetiredAndLovingIt
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Watch out, the spelling police are out today.....
REWahoo
Give me a museum and I'll fill it. (Picasso) Give
Good chance they is being detained by the grammer poelease.
ripper1
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WHAT?
ripper1
Thinks s/he gets paid by the post
Thank you. I stand corrected....
