0% capital gains bracket

[ripper1]

Am I correct that the 0% capitol gain bracket is going away in 2024? The married filling jointly threshold is a taxable income under 89250 and in 2024 goes to 94300 I believe.

 

[teej1985]

Am I correct that the 0% capitol gain bracket is going away in 2024? The married filling jointly threshold is a taxable income under 89250 and in 2024 goes to 94300 I believe.

I thought the 0% LTCG/QD bracket pre-dated TCJA. Wasn't it a Bush tax cut?

 

[harley]

Maybe. https://www.forbes.com/sites/kellyp...d-deduction-amounts-and-more/?sh=36184a0b74bb

According to the article you posted, there will still be 0% CG.

 

[oldtimer]

Not according to The Financial Buff.
https://thefinancebuff.com/tax-brackets-standard-deduction-0-capital-gains.html

 

[badatmath]

Yep I deleted when I realized I couldn't read! I don't think I have done one single thing right today.

 

[FREE866]

This thread is confusing because I can't tell who is responding to who


is the 0% LTCG rate going away as the OP suggested?


and if so do we know what it will be ?
thx

 

[mrfeh]

is the 0% LTCG rate going away as the OP suggested?

No

 

[PaunchyPirate]

The bracket changes put in place by the TCJA legislation expire after the 2025 tax year. So other than the inflation adjustments, the brackets aren’t changing until 2026. I don’t recall if that will reset the 0% cap gains bracket or not, but certainly not until 2026 if it does.

 

[mrfeh]

The bracket changes put in place by the TCJA legislation expire after the 2025 tax year. So other than the inflation adjustments, the brackets aren’t changing until 2026. I don’t recall if that will reset the 0% cap gains bracket or not, but certainly not until 2026 if it does.

Even if the TCJA expires, the 0% cap gains bracket won't "go away". The limit would just change.

 

[pb4uski]

Am I correct that the 0% capitol gain bracket is going away in 2024? The married filling jointly threshold is a taxable income under 89250 and in 2024 goes to 94300 I believe.

You are incorrect. There is no capitol gains tax bracket and never was. Not sure if that qualifies as going away or not.

 

[pb4uski]

Yep I deleted when I realized I couldn't read! I don't think I have done one single thing right today.

Keep that up and you'll have to change your screen name to badateverything.

 

[dixonge]

do capital gains *add to* your 'taxable income' bottom line? In other words, if taxable income is just under the minimum for 0% capital gains, would a stock sale be *added to* your taxable income on your 1040? And would it push you *out of* the 0% rate spot?

 

[RunningBum]

do capital gains *add to* your 'taxable income' bottom line? In other words, if taxable income is just under the minimum for 0% capital gains, would a stock sale be *added to* your taxable income on your 1040? And would it push you *out of* the 0% rate spot?

Yes and Yes. But only the part over the 0% range is taxed at CG rates.

 

[mrfeh]

do capital gains *add to* your 'taxable income' bottom line? In other words, if taxable income is just under the minimum for 0% capital gains, would a stock sale be *added to* your taxable income on your 1040? And would it push you *out of* the 0% rate spot?

This site does a nice job of visualizing tax brackets:

https://engaging-data.com/tax-brackets/

 

[badatmath]

Keep that up and you'll have to change your screen name to badateverything.

Ha I just saw this and am thinking it might true.