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Updated about 7 years ago,
Long Term Capital Gains
If I am married filing jointly and we make $250,000 income during 2018 and then sell an asset for $750,000 Long Term Capital Gains, what will be the tax rate on the capital gains?
Trying to understand:
1) Are Long Term Capital Gains taxed at a progressive rate (part of the gain at taxed at 15% and the remaining that exceed total income of $479,000 taxed at 20% or does the entire amount get taxed at 20% if you cross the $479,000 income threshold)?