Capital Gains ? - AR15.COM

Posted: 2/7/2002 6:52:03 PM EDT

Ok who can tell me how you figure out what tax bracket I am in, so I know what % in capital gains I would have to pay when I sell a non primary residence?

Posted: 2/7/2002 7:07:22 PM EDT

[#1]

Capital Gains baaaaaaadddddd!!!!!!!!

Posted: 2/7/2002 7:25:27 PM EDT

[#2]

Edited to add “What the hell is wrong with you Flashman? Didn’t you see the phrase [b]non primary[/b]?

Ah, no. Missed it completely. Must pay attention!

Posted: 2/7/2002 7:46:13 PM EDT

[#3]

Actually capital gains are very good. If the capital gains are long term and based on the sale of investment securities, the maximum tax rate is only 20% whereas the max rate for ordinary income is almost 40%.

Posted: 2/7/2002 8:12:46 PM EDT

[#4]

Capital Gains? Whats that? I've never had capital gains.

Posted: 2/7/2002 8:15:57 PM EDT

[#5]

Last I knew it was 28% for anything held under 16mo and 20% over 16mo... I have a CPA to do all this crap for me because I do NOT want to fvck with the IRS.

Posted: 2/8/2002 4:55:24 AM EDT

[#6]

Capital Gains SUCK BIG TIME. Nothing worse then paying more tax on money you have already been taxed on.

I hate seeing the 1099's come rolling in.

Posted: 2/8/2002 9:40:01 AM EDT

[#7]

In 97 changed max Capital Gain to 20% assuming held more than one year, if it is held less than 1 year it is treated as ordinary income.

Posted: 2/8/2002 6:56:52 PM EDT

[#8]

I found out the answer to my question. If you base it on your income and you fall under the 15% tax bracket then your capital gains liability is 10% instead of 20%. Not that I like to have to pay any tax. If I am only stuck with 10% I just might have enough in the end for an M16. I am going to hope anyway.

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