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Deductions & credits
So I have to report 2/3rd of the capital gains, not half? oh boy.
So 260/3 = 86.66 *2 = $173.33? I'm assuming it's gong to be 15% long term capital gains tax on this? So $26K?
Also, what happens if we decide to not claim the profits and give it all to my Farther in law?
Thanks,
‎February 7, 2020
6:29 AM