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emc011075, Tax adviser
Category: Tax
Satisfied Customers: 2188
Experience:  IRS licensed Enrolled Agent and tax instructor
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I have a question about what i believe would be called

Customer Question

I have a question about what i believe would be called capitol gains. I had 4 shares of company stock, 2 of which were just sold to cover taxes, It was approx 2900 tax comp. 1435 total tax amount... if I were to sell my other 2 shars,i how much should I expect to pay on it in taxes next year? I live in pa.
Submitted: 4 months ago.
Category: Tax
Expert:  emc011075 replied 4 months ago.

Hi. My name is ***** ***** I will be happy help you.

It depends on holding period (long term or short term) and your tax bracket. Short term gains are taxed as ordinary income, same tax rate as your other income based on your tax bracket.

Long term capital gains get special treatment.

In 10 - 15% tax bracket - 0% capital gains rate

in 25 - 35% tax bracket - 15% capital gains rate

in 39,6% tax bracket - 20% capital gains rate

Expert:  emc011075 replied 4 months ago.

Any questions? You can determine your tax bracket using an online calculator like this one:

Expert:  emc011075 replied 4 months ago.

And if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.