Question

Tax Advice

What would be the capital gains tax for a buy out for a cell tower $600000. Married couple .

It depends on how long you had the asset, your filing status and income. For short term capital gains (holding period less than a year) the range is 10% - 37%. The long term capital gains rates (holding period for more than one year) are from 0% - 20%.A Guide to the Capital Gains Tax Rate: Short-term vs. Long-term Capital Gains Taxes and the IRS Topic #409 Capital Gains and Losses.

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