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Level 6

Question

Capital Gains Tax 2021

Forum|Forum|4 years ago
June 25, 2021
1 reply
0 views

I found this on a Google search: "In 2021, individual filers won't pay any capital gains tax if their total taxable income is $40,400 or less. The rate jumps to 15 percent on capital gains, if their income is $40,401 to $445,850. Above that income level the rate climbs to 20 percent.".

Is this correct? Thanks

Not A Product Question

Level 15

@fasteddie577 wrote:
Is this correct?

That would be correct at this point in time since the thresholds for long-term capital gains tax rates are adjusted for inflation each year.

Intervening legislation could change those thresholds (and rates) for the 2021 tax year, obviously. Further, note the 3.8% tax on net investment income comes into play above a certain MAGI.

fasteddie577Author

Level 6

Thank you.