☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Apr 9, 2022 4:53:56 PM

Where can I find the brackets for Long Term Capital Gains rate?

Hi,

 

I used TurboTax, and it seems that my long term capital gain from stocks are taxed at 24%. I understand that long term capital gain is bracketed, but I couldn't find the info. I need this for future tax planning purpose.

 

Thank you.

0 4 195
1 Best answer
Level 15
Apr 9, 2022 5:14:41 PM

@ ncknck 

I also added some info above and an article about the 3.8% Net Investment Income Tax, if you are a higher-income filer subject to it.  Any NIIT can be reviewed on Form 8960.

 

Also to see how TurboTax calculated your tax, it likely used the Qualified Dividend and Capital Gain Tax  Worksheet.   You can review that worksheet. 

4 Replies
Level 15
Apr 9, 2022 5:09:52 PM

Long-term capital gains can be  taxed at 0 % (lower income filers),  15%, or 20%.  There are a few exceptions for less-common assets.  See the info and chart in this article:

 

https://turbotax.intuit.com/tax-tips/investments-and-taxes/guide-to-short-term-vs-long-term-capital-gains-taxes-brokerage-accounts-etc/L7KCu9etn

 

Also, are you a higher-income filer subject to an additional 3.8% Net Investment Income Tax (NIIT)?

https://turbotax.intuit.com/tax-tips/investments-and-taxes/what-is-form-8960-net-investment-income-tax/L15hpJmi9

Level 15
Apr 9, 2022 5:14:41 PM

@ ncknck 

I also added some info above and an article about the 3.8% Net Investment Income Tax, if you are a higher-income filer subject to it.  Any NIIT can be reviewed on Form 8960.

 

Also to see how TurboTax calculated your tax, it likely used the Qualified Dividend and Capital Gain Tax  Worksheet.   You can review that worksheet. 

Level 2
Apr 10, 2022 11:31:54 PM

Thank you so much! I really appreciate it!

Level 15
Apr 11, 2022 12:05:17 AM

You're welcome.  Good luck.