What will my capital gains tax liability be on a long term holding sale that nets $400,000. We live in Florida and our taxable income was 24,000 for 2018?

[sseashols]

For tax year 2019

[Texas Roger · Accepted solution]

Here are the long term capital gains tax rates:

Tax rate     Single                     Joint                           Head of household

0%           $0 to $38,600           $0-$77,200                $0-$51,700

15%         $38,601-$425,800    $77,201-$479,000     $51,701-$452,400

20%         $425,801 and up       $479,001 and up       $452,401 and up

Some of the gain would be taxed at 0% but the majority of it would be taxed at 15%.