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CB8249
New Member

Approximately how much is the capital gains tax on $100,000 if I withdraw it from my mutual fund in 2017 to buy a home?

 
1 Reply
PaulaM
Employee Tax Expert

Approximately how much is the capital gains tax on $100,000 if I withdraw it from my mutual fund in 2017 to buy a home?

The tax rate will depend on your tax bracket that you are currently in and whether the gains will be short-term or long-term.

If you're in the 10% or 15% tax bracket, you won't owe any capital gains taxes on securities you've held long-term, including mutual fund shares. Long term-capital gain rates range from 0%—20% and may also be subject to the 3.8% Medicare Surtax above a certain income threshold.

https://personal.vanguard.com/us/insights/article/cap-gains-explained-112015

http://www.investopedia.com/articles/investing/091715/basics-income-tax-mutual-funds.asp

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