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Re: Chemist2 post# 176697

Wednesday, 02/20/2019 4:06:40 PM

Wednesday, February 20, 2019 4:06:40 PM

Post# of 426183
I was about to respond with "WTF are you talking about, zero LTCG taxes if income < $101k?" - good thing I looked it up before responding, because you're right - it's part of the new tax code.

Since I have no taxable income, I wondered how that new law would apply to me - you can go to the calculator below, input the numbers, and get 2018 LTCG taxes due - in my example of $100k profit, I'd only have to pay $4680, but I could probably use tax loss carryovers to offset some of that too. Not gonna run the real numbers because I don't want to see how big the actual tax bill would be - and for youse guys with 100k+ shrs, you'll probably have a heart attack if you see the taxes in black and white, LOL. Oh, this is only for federal taxes, doesn't include state taxes - in CA for instance, LTCG are taxed as ordinary income, so you'd could owe another 13.3% if your AMRN gains put you in the highest tax bracket.

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/?s=1

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