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stjoe27
April 10, 2025
Question

Tax due?

  • April 10, 2025
  • 1 reply
  • 0 views

Married couple. $200000. total taxable income. $140,000 of that is a long term capital gain. About how much tax is due?

 

1 reply

J
JamesG1
April 10, 2025

Many variables.  

 

Are taxpayers over age 65?  Are there itemized deductions or the standard deduction?  Does the $60,000 that is not a LTCG include qualifying dividends?  Does the LTCG report a collectible?  Is net investment income due?

 

A Qualified Dividends and Capital Gain Worksheet may report your gain at 0%, 15% and 20%.

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