Long term capital gain 2017
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LONG TERM CAPITAL GAIN 2017 HOW TO
Simply click here to discover how to learn more about these strategies. each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. For example: one easy trick could pay you as much as $15,834 more. But a handful of little-known "Social Security secrets" could help ensure a boost in your retirement income. The $15,834 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. Therefore, it's important to be aware of and to understand both long-term capital gains tax possibilities for the 2017 tax year. If President-elect Trump's new tax brackets go into effect, the impact on your long-term capital gains tax rates, if any, depends on your income and tax filing status.įor those currently in the top tax bracket, the elimination of the 3.8% additional investment income tax could be a nice benefit, so it may be a good idea to hold off selling investments, if possible, until 2017.įinally, be aware that there's no guarantee that Trump's proposed tax changes will be passed in 2017, and if they are, there's no guarantee that they will be retroactive to Jan.
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This means that a lot more people would be included in the 20% long-term capital gains rate under the new plan.
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However, notice that the income threshold for Trump's highest (33%) bracket is significantly lower than the highest tax bracket currently. For the majority of taxpayers, long-term capital gains taxes would either stay the same or decrease. In addition, since Trump and most of his Republican allies have made it clear that they intend to repeal the Affordable Care Act, the 3.8% investment income tax on high-earners would cease to exist.Ī couple of things to notice. Many people who have enjoyed the more favorable head-of-household tax brackets would be classified as "single" and could see their long-term capital gains tax rate increase. Data source: Notice that there is no more "head of household" or status, nor is there a "marriage penalty" - that is, the single tax brackets are now exactly half of those for married joint filers.