Capital Gains Tax Question

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Capital Gains Tax Question Anonymous Tue Feb 16 11:04:51 2021 No.28869428 [Reply] [Original]

Hypothetical tax question. Let's say my income for the year is $1000, and I make $50,000 in capital gains. I know that my capital gains are taxed 0% for an income up to $40,000, so does that mean $39,000 of my capital gains are untaxed, and the rest of the $11,000 of my capitals gains are taxed at 15%?

>>	Anonymous Tue Feb 16 11:07:14 2021 No.28869592 >>28869428 I hjave no idea. I have 15k link, and im on unemployment. I dont know how taxes work. pee pee poo poo.

>>	Anonymous Tue Feb 16 11:09:53 2021 No.28869780 Yes, you are correct.

>>	Anonymous Tue Feb 16 11:15:41 2021 No.28870199 >>28869780 Ok sweet, that's actually a lot less than I thought. Being a broke as college student is pretty nice tax wise. Even if I were to cash out 400k of crypto, I would only be paying like 10%-20% on that which isn't bad.

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