Capital Gains and Losses
Capital Gains Tax Questions? Ask a Tax Advisor for Answers ASAP
Hello, My name is***** am a Certified Financial Planning ® Professional. I am also registered with the IRS and have obtained a valid Preparer Tax Identification Number.
Your tax obligation would depend in part on your filing status and Adjusted Gross income.
Long-Term Capital Gains --2017
For taxpayers in the 10% or 15% tax bracket--0% Capital Gains Rate
For taxpayers in 25%, 28%, 33%, 35% tax brackets--15% Capital Gains Rate
For taxpayers in 39.6% tax bracket--20% Capital Gains Rate
You may also be subject to Net Investment income tax 3.8% and 0.9% medicaid
In general, investment income includes, but is not limited to: ***** ***** capital gains, rental and royalty income, non-qualified annuities, income from businesses involved in trading of financial instruments or commodities and businesses that are passive activities to the taxpayer (within the meaning of section 469). To calculate your Net Investment Income, your investment income is reduced by certain expenses properly allocated to the income
For more information about how you may be affected by Net Investment Income I have provided a popular link to the IRS Q & A below.
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