Thank you, Mike. I guess I asked the question the wrong way. You are correct the AGI will not be $200K but $900K (200K would have been the AGI without LTCG). My question then is this: Is all of the LTCG of 700K taxed at the top rate, or is some (around 300K) of it taxed at a lower rate (15%) and then what is left at 20% (given that what is left means the total AGI is now above 500K, which is about the tax bracket threshold for married jont)?
