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Re: Bobwill59 post# 156927

Tuesday, 07/20/2021 8:06:46 AM

Tuesday, July 20, 2021 8:06:46 AM

Post# of 220809
Regardless of the number of shares you have, you are going to pay the tax rate you pay for ordinary income because this year you would likely pay short term capital gains which is taxed like earned income, and next year, if Biden't tax plan passes, there won't be a long term rate. Again you will pay the rate of earned income, which could be up to 39% plus a Medicare surcharge of 3.8%. If your income is $171K to about $340K, your rate will be 24%.

If you sell shares this year that you have held more than a year, you will pay 15% long term capital gains. Quite a savings compared to next year when you will pay over 42%.