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Tax law changes
With those exact figures, a portion of the gain would be taxed at 15%.
The actual calculation is found in the worksheet on page 36 of the Form 1040 instructions. ("Qualified Dividends and Capital Gain Tax Worksheet")
If you want to take a look there, you can see how the tax will be calculated. And you'll probably understand why, even as a tax professional, I'm glad I have software to perform calculations like this one!
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‎September 28, 2022
11:05 AM