Depending on your filing status, you may see all of your income taxed at the same rate. Keep in mind the 28% rate is a maximum rate that you can be taxed on collectibles. This means that if you taxable income is greater than the amounts below and your ordinary tax rate is higher than 28%, then your gain from the collectibles will not be more than 28%.
- Net capital gains from selling collectibles (such as coins or art) are taxed at a maximum 28% rate.
Collectibles:
A capital gain rate of 28% applies if your taxable income is more than $40,400 but less than or equal to $445,850 for single; more than $80,800 but less than or equal to $501,600 for married filing jointly or qualifying widow(er); more than $54,100 but less than or equal to $473,750 for head of household or more than $40,400 but less than or equal to $250,800 for married filing separately.
@dtorjor
You will see Schedule D, Schedule D Tax and 28% Rate Gn Wks in your file.
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