- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
Your long-term capital gain is subject to 3.8% Net Investment Income Tax in addition to the 15% income tax, so the total tax rate on the gain is 18.8%, which would be $9,804. In addition, the increase in income could have side effects. It could reduce or eliminate various deductions or credits. You have to look at your Form 1040 before and after entering the gain to see what else changes. Look at the actual tax form, not the summary screens in TurboTax.
If you have further questions, please tell us what your filing status is.
‎February 27, 2022
7:11 PM
790 Views