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Biden's capital gains tax proposal could crush the economy

#11
(This post was last modified: 04-27-2024, 10:20 AM by InvalidContentWasFoundStarting. Edited 1 time in total.)

Now let's do the same thing for Capital Gains income

Filing Status: Single
IF YOUR 2022 TAXABLE INCOME IS CAPITAL GAINS AND IS:
OVER  BUT NOT OVER  THE TAX IS  OF THE AMOUNT OVER
  0        41,675              0%              0
41,675    459,750              15%          41,675
459,750 and up            62,711.25 + 20%    459,750
SO IF YOU WERE SINGLE AND YOUR $1,000,000 TAXABLE INCOME WAS ALL CAPITAL GAINS:
  You would pay 0% tax (0) on the chunk of capital gains between 0 and 41,675.
  You would pay 15% (61,711.25) on the chunk of capital gains between 41,676 and 459,750.
  You would pay 20% (108,050) on the chunk of capital gains between 459,751 and 1,000,000.
For a TOTAL TAX of 0 + 61,711.25 + 108,050 = 169,761.25 or almost 17% of the $1,000,000
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Messages In This Thread
RE: Biden's capital gains tax proposal could crush the economy - by InvalidContentWasFoundStarting - 04-27-2024, 10:17 AM
copycat - by copycat - 04-27-2024, 08:09 PM
RE: copycat - by mikesez - 04-27-2024, 10:05 PM



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