I have $76000 capital gain tax and my taxes went up $10000 for federal

3b30dec3dfe9 · ‎February 18, 2022

can $76000 capital gain increase federal tax by $10000?

KrisD15 · ‎February 18, 2022

Certainly.

Depending on whether it is long term or short term, it might be 0, 15% or 20%. (or more)

10,000 on 76,000 is 13%. Of course it might also affect credits.

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Jeffery_H · ‎February 18, 2022

If it is all long term, it is going to cause a minimum of $5340 in additional taxes at the 15% bracket. If it is short term gains, that number will be even more. Additionally, if you received any Premium Tax Credits (Obamacare) throughout the year, you most likely will be paying all of that back.

Take a look at your Schedule D Tax Worksheet

and Form 8962 (if applicable).

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I have $76000 capital gain tax and my taxes went up $10000 for federal