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New Member
posted Jun 5, 2019 3:38:17 PM

Hi There! I am planning to sell some of my shares in stock, and want to be able to plan for how much I will be taxed on this sale later. Does anyone have a way of telling the %?

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1 Best answer
Level 3
Jun 5, 2019 3:38:19 PM

That all depends on the holding period and your taxable income.  

Short-term gains: If you held the stock for less than a year, the gains from the sale will be taxed as ordinary income. 

Long-term gains: If you held the stock for more than one year, the gains will receive preferential tax treatment. Capital gain may be taxed at 0% if you're in the 10% or 15% ordinary income tax brackets, taxed at 15% in the 25-35% brackets, and taxed at 20% if you are in the 39.6% ordinary tax rate. 

You may want to utilize this tax calculator to help estimate your tax liability for 2017. 

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

1 Replies
Level 3
Jun 5, 2019 3:38:19 PM

That all depends on the holding period and your taxable income.  

Short-term gains: If you held the stock for less than a year, the gains from the sale will be taxed as ordinary income. 

Long-term gains: If you held the stock for more than one year, the gains will receive preferential tax treatment. Capital gain may be taxed at 0% if you're in the 10% or 15% ordinary income tax brackets, taxed at 15% in the 25-35% brackets, and taxed at 20% if you are in the 39.6% ordinary tax rate. 

You may want to utilize this tax calculator to help estimate your tax liability for 2017. 

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/