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Financial Planning / Tax Strategies


Subject:  Re: gift of stock Date:  2/6/2000  4:39 PM
Author:  timm Number:  27485 of 127519

The gain is added to your other income. Should your income prior to the gain result in you being in the 15% bracket the gain, assuming it is longterm, is taxed at 15%.

If your income exclusive of the gain is in the 28% bracket then the gain would be taxed at 20%

I don't understand now, because I asked this question a week or so ago and received a different answer.

In your first paragaph, I believe that it should be 10% at the end, not 15%.

Also, don't you mean "inclusive" of the gain?

I have almost zero income for the current tax year, which would put me in the lowest tax bracket. I have some large long-term capital gains. My question was "Do these gains count as income to establish the tax bracket in which I would fall for determining the tax on the capital gains?"

And the answer I received was "Yes", but the answer above seems to say "No".

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