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Old 04-05-2021, 05:46 PM
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Taxes owed on capital gains

Do I pay the total percentage on capital gains, or is it calculated like income where it is staged. For example, if I make $65Kin income. I'm looking at a tax table for long-term capital tax rates that says the rate is 0% for incomes up to $53,600, and 15% for incomes from $53,600 to $469,050. The question is, do I pay 15% on the whole $65K, or do I pay 0% on the first $53,600 and 15% on the remaining $11,400?



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Old 04-11-2021, 11:16 AM
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Quote:
Originally Posted by derohanes View Post
Do I pay the total percentage on capital gains, or is it calculated like income where it is staged. For example, if I make $65Kin income. I'm looking at a tax table for long-term capital tax rates that says the rate is 0% for incomes up to $53,600, and 15% for incomes from $53,600 to $469,050. The question is, do I pay 15% on the whole $65K, or do I pay 0% on the first $53,600 and 15% on the remaining $11,400?
you need to use your purchase and sale information to complete Form 8949 of so you can report your gains and losses on Sch D of 1040/the Qualified Dividends and Capital Gain Tax Worksheet and then transferred to line 13 of Form 1040.



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