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After you file
I did a search on-line using "In 2023, how much taxable income a married couple can have maximum without paying any taxes on long-term capital gains" and from bankrate.com came the following:
Long-term capital gains tax rates for the 2023 tax year
FILING STATUS | 0% RATE | 20% RATE |
Married filing jointly | Up to $89,250 | Over $553,850 |
The only input I entered into TurboTax to get this correctly is only if either of them or both of them is/are 65 and older. But according to the the above data, it should also apply to other couples younger than 65.
‎October 28, 2024
6:15 AM