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I want to sell some stock. My estimated w-2 income for 2017

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will be $13,000.00. My estimate...
I want to sell some stock. My estimated w-2 income for 2017 will be $13,000.00. My estimate Long Term gain will be $50,000.00. Will the 50 get added to the 13 making my taxable income 63? Or does my taxable income stay at 13 and I'd pay a separate Long Term gain rate on the 50?
JA: The Expert will know how to help. Is there anything else the Expert should be aware of?
Customer: I think if my taxable income stays at $13,000.00 then I'd pay zero Long Term Cap Gain tax, but if the 50 gets added to the 13 to make my taxable income 63 then I would get taxed on the stock sale. Which way is correct? thanks
Submitted: 4 months ago.Category: Tax
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Answered in 13 minutes by:
8/22/2017
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 4 months ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,378
Experience: Certified Public Accountant
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Hi, my name is Mark. I will be happy to help you with your questions. The $13,000. The $13,000 would be taxed first. The $50,000 long-term gain would be taxed next. The amount that is in the 10 and 15% bracket would be taxed at 0% federally.

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