Tax on long term gains is taxed as Capital Gains . The rest of your income will play a part in the tax rate. However, your tax rate on the sale of the property would be between 0% and 20%. The capital gains rates are as follows based on income Zero percent rate for the following income $47,025 for single or MFS $63,000 for HOH $94,050 for Married Filing Jointly Fifteen percent for income more than above but less than below $291,850 for MFS $518,900 for Single $551,350 for Head of Household $583,750 for Married Filing Jointly Twenty percent for the amount that your taxable income is over the 15% level.

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Jerry12349

Question

Tax on Long Term Gains

Forum|Forum|1 year ago
April 10, 2025
1 reply
0 views

No text available

Vanessa A

Tax on long term gains is taxed as Capital Gains . The rest of your income will play a part in the tax rate.

However, your tax rate on the sale of the property would be between 0% and 20%. The capital gains rates are as follows based on income

Zero percent rate for the following income
- $47,025 for single or MFS
- $63,000 for HOH
- $94,050 for Married Filing Jointly
Fifteen percent for income more than above but less than below
- $291,850 for MFS
- $518,900 for Single
- $551,350 for Head of Household
- $583,750 for Married Filing Jointly
Twenty percent for the amount that your taxable income is over the 15% level.