Limit taxes on stock sales. We have held them more than a year. They more than doubled in value. How do we reduce taxes we have to pay?

[VolvoGirl]

Don't sell them all?  Or also sell some stocks or funds that have losses.  If you sold them for a big profit you might want to send in an Estimated payment so you don't owe a lot when you file your tax return.  If you owe too much tax due you may have to pay a penalty.

[cruzan]

Forgot about penalties - makes sense to sell small amounts at a time.

Thanks.

[Anonymous]

the selling has to be done in different years. that means the value could rise more or even fall.   since you say "we", I'm assuming you file a joint return. 

For 2020, long-term capital gains and qualified dividends face the following tax rates:

0% to 15% tax rate if they fall below $80,000 of taxable income if married filing jointly,

[fanfare]

Besides selling some other stock that has a loss, there is no way to avoid the capital gains tax.

If you sell stock at a loss, after 30 days, you could buy it back it you want to.

Within 30 days, your loss is disallowed.