Capital gains
Hello Terry, I sent this question before but l didn’t hear back so I must have done something wrong, and I’m sorry for that. What I wanted to know if I’m able to sell a long held stock and not pay capital gains up to a certain amount based on our income. I read an article about it on the internet. Thank you for your time .
Terry Says
0% Capital Gains Bracket: Some taxpayers owe 0% federal tax on their long-term capital gains simply by virtue of their income level. The IRS long-term capital gains tax rate is 0% for low-income ranges (for example, in 202r a single filer with taxable income up to $48,350 (married filing jointly — $96,700) pays no tax on long-term gains. That means certain investors in lower tax brackets enjoy capital gains that are effectively tax-free.
