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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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Myhusband I and I each received a dividend check of 11980.00

Customer Question

myhusband I and I each received a dividend check of 11980.00 from Stancorp. Stancoep was bought out. I make about 24000.00 a year. Bruce is on social security disability. What percentage do we withhold for next year taxes??/
Submitted: 11 months ago.
Category: Tax
Expert:  Lane replied 11 months ago.

Hi Janice,

...

Qualified dividends are taxed at 15% BUT some of it will be at zero (depending on what your total household income is)

...

Long-term gains and qualified dividends taxed at

  • 0% if taxable income falls in the 10% or 15% marginal tax brackets
  • 15% if taxable income falls in the 25%, 28%, 33%, or 35% marginal tax brackets
  • 20% if taxable income falls in the 39.6% marginal tax bracket

...

So if you withhold 15% you'll be safe

...

Let me know if you have questions

...

Lane