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Get your taxes done using TurboTax
When I enter my long term capital gain on schedule D it shows up on the 1040 and contributes to AGI. I thought the capital gains tax rate was 15%, but this looks like it is just contributing to the total AGI and will ultimately be taxed as income. Can you explain how I can determine what the actual tax is, so that I can decide whether an installment sale would make more sense?
‎December 6, 2020
8:56 AM