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Old 11-03-2017, 02:53 PM
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capital gains-individual income

Hi,
I am thinking about selling some stock through E-trade. I know for long term capital gains (hold stocks for at least a year) the sale of the stocks will be taxed at 15% as determined by my income tax bracket.

We are close now to be going into the next tax bracket for regular income taxes. Will the sale of the stocks be counted toward our joint income tax and push us to the next tax bracket?
Thank you,
Shane



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Old 11-04-2017, 10:10 AM
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We are close now to be going into the next tax bracket for regular income taxes. Will the sale of the stocks be counted toward our joint income tax and push us to the next tax bracket?=====>>Correct; as you can see, you need to report your capital gain on 1040 line 13 and the gain will increase your AGI , taxable incomewhich then affects your tax bracket. HOWEVER, capital gains are taxed differently. But to answer your question, they do affect your tax bracket.



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