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Do you pay capital gain tax if you are in 15 percent tax bracket?
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What is the capital gains tax on long term?
Tax Rate on Long-Term Capital GainsCapital gain income from assets held longer than one year are generally taxed at a special long-term capital gains rate. The rate that applies depends on which ordinary income tax bracket you fall under. Zero percent rate if your total income (including capital gain income) places you in the ten or fifteen percent tax brackets.15% rate if your total income (including capital gain income) places you in the twenty-five percent tax bracket or higher.For 2010 Tax, Single can make $34,500 (If Capital Gain alone) and pay no Federal Tax. For married it is $68,675.Remember, you might have to pay state tax.Cool huh?
Does precious metal miners pay capital gain tax?
They would have to pay ordinary income tax on gains from mining. This would not qualify as a capital gain.
What is the short term capital gain rate for stocks?
The short term capital gain on a stock held for less than one year is the rate you pay on ordinary income.
I know I must pay capital gains taxes but do I have to pay before I can get my profits?
A capital increases charge is a duty on the benefit that a financial backer makes from the offer of a venture like stock offers. On capital gains, advance tax must be paid. However, in order to pay his advance tax installment, one cannot accurately estimate the capital gain advance. Therefore, if a taxpayer has a capital gain after the advance tax installment due dates, the tax on that gain must be paid in the remaining installments.
In the US do pay capital gain tax on money brought in from another country?
Just fro bringing it in, no.
Will I have to pay a capital gain's tax on my home if I sell it?
No unless that is yours and the buyers agreement they might have you pay taxes or they won't move in and if they do pay taxes you won't have to worry about them.
Did you know that if you sell your house after 2012 you will pay a 3.8 percent sales tax on it?
This is inaccurate and needs to be corrected. The truth about the bill is that if you sell your home for a profit above the capital gains threshold of $250,000 per individual or $500,000 per couple then you may be required to pay the additional 3.8 percent tax on any gain realized over this threshold.
How does income differ from pay?
income is from an investment and you only pay capital gains of 15 percent pay is earned income and is taxable as per the IRS tax code
Do you pay state sales tax as well as federal capital gains tax when you sell land?
Yes this could be possible when the state has a sales tax on the sale of land. On your federal income tax return 1040 schedule D or 4797 yes you would report the sale of the land and if you have a capital gain could have to pay some income tax on the amount of the capital gain.
If an individual reported capital gain in 2007 and had to pay a medicaid penalty in 2009 can this penalty amount be counted as a capital loss against the capital gain?
The medicaid item is NOT a deductible amount of any nature (penalties to start generally aren't and medicade contributions aren't either). And certainly in any regard would not be a capital item ever. Medicaide is NOT a capital asset, it may have a cost, but you do not have any basis invested to calculate a gain or loss from. (Consider that what your thinking would then mean every payment or coverage you receive would then have to be a capital gain).
Do you have to pay capital gains taxes when you sell a house?
If you had the home as your primary residence within the past 2 years, you will not have the pay the taxes. This is as long as you did not gain more than $250,000 from the sale.Ê
Do you have to pay capital gains tax when selling a property?
Capital gains tax is a tax on capital gains if when you sell or give away an asset it has increased in value you may be taxable on the gain this doesnt apply when you sell personal belongings worth six thousand pounds or lesss nor will you have to pay capital gains taxwhen you sell your main home provided certain conditions are met but you will be required to pay cgt on any other properties which you own ie if you own a villa in forta ventura and decide to sll it then any profit you make will be taxable as a capital gain Whether you pay capital gains on a property is determined by a number of different variables. To get an explanation on capital gains taxes see: http://www.sellmyhomeinmetrowestma.com/Capital_Gains/page_2233154.html
