Want to pay 0% Tax on Stock Sales?

You can pay no Federal tax on the gain recognized from the sale of stocks and securities held for over 1 year to the extent you make less than around $124K as a married couple this year.  So, if you are married and have joint income of $100K this year, you can sell stocks and recognize long-term capital gain of around $24K and pay no Federal tax on it.  Any gain over $24K would be taxed for Federal purposes.  When consider taking advantage of this, be aware that the extra income from the stock gains could cause more of your Social Security to be taxable and might also reduce your Marketplace Health Insurance subsidies.  Please contact us if you are interested in taking advantage of this so that we can see how this idea applies to your particular tax situation.