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Capital gain from sale of bare land inherited 30 yrs. ago Taxability rate fir a 76 yr.old retitree??
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Capital gain from sale of bare land inherited 30 yrs. ago Taxability rate fir a 76 yr.old retitree??
If you cannot pay the entire balance due on the filing deadline then you can go on a payment plan HOWEVER they will continue to charge you penalties and interest (just like a credit card you pay monthly) at a rate of about 23% per month. So the faster you pay it off the better. https://www.irs.gov/payments/online-payment-agreement-application
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Capital gain from sale of bare land inherited 30 yrs. ago Taxability rate fir a 76 yr.old retitree??
Long term capital gains are taxed at a max rate of 20% no matter how old you are however an extra 3% tax could be added depending on your other income.
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Capital gain from sale of bare land inherited 30 yrs. ago Taxability rate fir a 76 yr.old retitree??
Any way to pay the IRS over time?-not all at once?
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Capital gain from sale of bare land inherited 30 yrs. ago Taxability rate fir a 76 yr.old retitree??
If you cannot pay the entire balance due on the filing deadline then you can go on a payment plan HOWEVER they will continue to charge you penalties and interest (just like a credit card you pay monthly) at a rate of about 23% per month. So the faster you pay it off the better. https://www.irs.gov/payments/online-payment-agreement-application
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