TaxGuyBill
Level 15
03-30-2022
12:48 PM
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@Clipperclerk wrote:
My client is on a fixed income of less than 40k annually.
If she started off with $40,000 of income, and adds in a large amount of additional income from the sale, that puts her income much higher. So if she had a $200,000 of taxable gain from the sale, her income is now $240,000. That means much of the capital gains would be taxed at 15%.
