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Subject:  Re: IRS on 18% CG taxes Date:  2/1/2001  9:55 AM
Author:  TMFExRO Number:  45290 of 132875

Phil, I'm assuming what is meant by the 28% bracket here is the capital gains rate bracket, which is really 20% but still called 28% on the forms, etc. Is that right?

No. You're probably thinking of the "28% gains," a subset of long-term capital gains. The "28% bracket" is the standard tax bracket found on the Tax Rate Schedules.

BTW, we're still trying to get some clarification on whether one can combine the 1/1/2001 deemed sale and the section 121 exclusion of gain on sale of personal residence.

Phil Marti
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