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| Subject: is long term cap gains income? | Date: 4/23/2005 6:36 PM | |
| Author: ImCalvin | Number: 78921 of 118626 | |
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If I purchased a stock ten years ago in a regular brokerage account for $10 per share and sold it today for $60 I would have long term capital gains of $50 per share. How would I calculate the total tax owed, is it just $7.50 (15% of $50), is that $50 added to my income or is it some combination of both? Sorry for the really basic question, but your help is much appreciated. -Ben |
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