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Investors & landlords
Here's how long term capital gains tax works.
Let's assume your other gross income is $60,000 and you claim the standard deduction for married filing jointly of $27,700. Your taxable income is $32,300. For 2023, if your taxable income is less than $89,450, your long term capital gains rate is zero. Above that and your LTCG rate is 15%. Assuming a capital gain of $195,000, the first $57,150 is taxed at zero% (because $89,450 minus $32,300 = $57,150) and the remaining $137,850 is taxed at 15%.
‎December 1, 2023
11:34 AM
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