Replies to post #100476 on Good Vibrations Shoes Inc (GVSI)

[KeithPB50]

No, that’s not the way it works. Let me keep it simple. If you are single and have a job and you earn $35,000.00 a year in earned income. That’s under the threshold of what I posted. That means you fall into the 0% LONG TEM CAPITAL GAIN TAX BRACKET. So even go you make $1.0 million in long term capital gains, you pay NO TAX.

If you earn income less that $41,675.00 a year, you are in the 0% Long Term Capital gain tax bracket, That DOES NOT INCLUDE MONEY YOU MADE TRADING!!

Read the article I posted. That explains it.

https://www.cnbc.com/amp/2022/02/08/heres-how-much-you-can-make-and-still-pay-0percent-in-capital-gains-taxes.html

Your long term capital gain tax rate is based on how much money you earn, not on how much money you earn in stock transactions. Only your earned income after deductions.


You may qualify for the 0% long-term capital gains rate for 2021 with taxable income of $40,400 or less for single filers and $80,800 or less for married couples filing jointly.
You calculate taxable income by subtracting the greater of the standard or itemized deductions from your adjusted gross income.

Do not figure the money you make in the stock market as earned income. That’s capital gain, either short term capital gain or long term capital gain. It’s not income.

[KeithPB50]

You’re confused here.

“So Keith, long-term capital gains are considered taxable income as we all know”.

Long term capital gains are NOT CONSIDERED INCOME. They are TAXED at ordinary income tax bracket levels.

There is a difference.