topic What do I pay on 68,091.27 long term capital gains? in Get your taxes done using TurboTax

What do I pay on 68,091.27 long term capital gains?

clesummers — Mon, 23 Nov 2020 20:28:48 GMT

Re: What do I pay on 68,091.27 long term capital gains?

Critter-3 — Mon, 23 Nov 2020 20:33:12 GMT

Depends on the rest of your return since cap gains are not taxed in a vacuum ... it can be as much as 20% + state taxes. Use the downloaded program to do a what if.

Try this tool : http://www.irs.gov/Individuals/IRS-Withholding-Calculator

Re: What do I pay on 68,091.27 long term capital gains?

rjs — Mon, 23 Nov 2020 20:39:54 GMT

The tax on long-term capital gain depends on your filing status, how much other income you have, what kinds of other income you have, and possibly other factors.

You can use TaxCaster to get a rough idea. Enter all your information except the capital gain and see how much the tax is. Then add the capital gain and see how much the tax increases.

TaxCaster is still set up for 2019, but it will give you a pretty good idea of how much the tax will be.