0% Long Term Capital Gains Earlier this year I decided to unload some long term gains in order to take advantage of 0% Long Term Capital Gains Tax for earners in 15% tax bracket and below. I recently purchased options that may land me above the 15% tax bracket but I am not positive how this works so here is some background.
I have about $30,000 in long term capital gains my wife and I have about $30,000 in income with standard deduction how much in short term gains can I have before I wind up in the next tax bracket? And if so will I be forced to pay tax on all capital gains? I have about $20,000 in short term gains that I would like to lock in but I am afraid that if I do this may screw me over during tax season. |