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Get your taxes done using TurboTax
Also, with the additional info you provided, it's possible that you get hit with the addition Net Investment Income Tax. which is an additional 3.8% tax on investment income, including capital gains..depends on your MAGI.
Net Investment Income Tax
In addition to regular capital gains tax, some taxpayers are subject to the net investment income (NII) tax. It imposes an additional 3.8% tax on your investment income, including your capital gains, if your modified adjusted gross income (MAGI) is greater than:
- $250,000 if married filing jointly or a qualifying widow(er) with a child
- $200,000 if single or a head of household
- $125,000 if married filing separately
see here https://www.investopedia.com/terms/n/netinvestmentincome.asp
‎April 5, 2022
4:38 PM
2,832 Views