I have heard and read a little about the possibility of cutting your capital gains tax to zero in 2008 but I would like to get more information. Is there a publication available? The article I read talks about the sale of stocks, mutual funds, and "other securities". Does this include investment real estate? I think we can get our taxable income down next year with some strategic planning and we would like to take advantage of this tax cut. Don't get too excited. This is all part of the tax law changes from 2003 (JGTRRA?). However, the 0% LTCG rate only applies to that portion of your LTCG that would currently be taxed at 5%, not all of your LTCG. Additionally, with the rollback in the AMT standard deduction, you may find that a large LTCG exposes your regular income to AMT. Any good tax planning module in a 2006 tax prep package should give you an idea of what 2008 will bring, although I don't think the indexed amounts for 2008 have been released yet.Ira
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