If it appears that you are being taxed at a higher rate than any of these, it is because the capital gains income is having an impact on other things in your tax return. Possibilities include: You are subject to the Net Investment Income Tax of 3.8%. See What is Form 8960, Net Investment Income Tax? You are subject to the Alternative Minimum Tax. See Why am I getting hit with the AMT (Alternative Minimum Tax)? The higher income means other credits or deductions are being phased out or eliminated.Compare your income tax return before you entered your stock sale versus your return after you entered your stock sale to see how it affected your tax return(s).

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ryan99

Employee

Question

I added a stock sale with 3300 in long term cap gains and saw my refund reduce by about $1000. I'm in the 15% bracket (confirmed by Turbotax). Shouldnt the tax be $660?

Forum|Forum|3 years ago
February 15, 2023
1 reply
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HelenC12

If it appears that you are being taxed at a higher rate than any of these, it is because the capital gains income is having an impact on other things in your tax return. Possibilities include:

You are subject to the Net Investment Income Tax of 3.8%. See What is Form 8960, Net Investment Income Tax?
You are subject to the Alternative Minimum Tax. See Why am I getting hit with the AMT (Alternative Minimum Tax)?
The higher income means other credits or deductions are being phased out or eliminated.

Compare your income tax return before you entered your stock sale versus your return after you entered your stock sale to see how it affected your tax return(s).

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