Question

Capital Gains tax

Forum|Forum|2 years ago
October 25, 2023
1 reply
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In January I would be selling stock that i acquired from 2013-2022 (all are long term capital gains). I will have no income next year and plan to live off some savings. So my capital gains is around $56000 at the moment. Will have to pay any taxes on this? I file single.

Ask the Experts - Extension - Sept 2023

K

Katie-P

Hi Capitalgains! Thanks for participating in today's event.

Yes, you will have to pay taxes on the long-term capital gains you spoke of.

I recommend that you use our Taxcaster tool to forecast what you might owe for your 2024 taxes. Note that the tool is still pointed to the 2022 tax year, but you can still use it to reasonably estimate your taxes.

I hope this information is helpful!

Cheers,

Katie

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