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Re: ellismd post# 242064

Friday, 12/19/2008 1:25:39 PM

Friday, December 19, 2008 1:25:39 PM

Post# of 432729
ellismd, his answer is absolutely correct

You only get the 0% tax rate on capital gains so long as your total taxable income (including the capital gains) is under the 15% tax bracket. I didn't look them up, but the numbers he gave are very close if not exactly right.

They also upped the age limit on the kiddie tax to 18, and to 23 for students, so if anyone gets the bright idea of gifting stock to their kids so they can sell it, it will still get taxed at the parents rate if the child is subject to kiddie tax.

The above is general info and off the top of my head. Before taking any action check out your particular situation with your tax advisor.
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