Thanks. Just a little confused.
So I add the LTCG to ordinary income to determine the LTCG tax rate? Don't get that, I thought these were two separate issues.
I add my $96,000 ordinary income to the LTCG of $100,000, totaling $196,000, as you indicate. This total is then taxed at 15%?
If so, what gets taxed at 22%?
If I'm adding my ordinary income to the LTCG and paying 15% on the new total of $196K, would I still have to pay 22% on the ordinary income?
That looks like double taxation to me.
Please show me a numerical breakdown of what gets taxed and at which rates.
Thanks.
