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To: luv2ski

I think the 80% rate is up to a certain amount. Above that amount is taxed as regular income. (I could be wrong)


12 posted on 11/28/2019 8:26:55 PM PST by Ken H (And Epstein didn't kill himself.)
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To: Ken H

Long term Capital gains tax tops out at 20%...You don’t have an accountant? Maybe it’s time you find one....Dems would be more than happy to raise the long term capital gains.


14 posted on 11/28/2019 8:38:21 PM PST by psjones (u)
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To: Ken H
The way I understand it, there is no limit to the 20% you pay on long term capital gains. Twenty percent is not bad, especially considering the alternative which would vary with income but likely be far greater than 20%.

If you are sitting on a huge capital gain, you should talk to your accountant about it. Perhaps selling off parts over time would enable you to liquidate the position without onerous taxes. The other thing to consider is that regardless of the incredible economy DJT has brought us, we are eventually going to have a major correction in the stock market. I would hate to see you lose significant value b/c you held onto a position b/c you were worried about the taxes.

26 posted on 11/28/2019 9:16:48 PM PST by luv2ski
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