If you're in the 15% bracket, long-term capital gains are taxed at 5%.
2007-03-29 00:49:30
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answer #1
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answered by Bostonian In MO 7
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Do you mean you have a $100,000 capital gain? If so, you will pay 5% on part of it, but I believe that the rest will be at 15%.
If what you sold was worth $100,000, my comment still applies. For example, I just put your situation into Turbo Tax, assuming that was your only income. It calculated a tax due of $11,173 after allowing standard deduction, 1 exemption, and 5% on part of the gain (which would be less than $5,000),
15% on the rest.
2007-03-29 11:23:20
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answer #2
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answered by CarVolunteer 6
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