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Post by Deleted on Mar 20, 2021 0:04:49 GMT
long term Capital gains tax rate for married filing jointly with income less than 80,000 is 0%.
So if some year i am out of job or i am retired I can sell my stocks and pay 0% tax on gains?
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Post by yogibearbull on Mar 20, 2021 0:19:15 GMT
Yes. But don't lose job just for that  . Many in retirement now have same or higher tax bracket, especially after RMDs kick in. So, lower tax rate in retirement has been a mirage for many. |
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Post by richardsok on Mar 20, 2021 15:50:04 GMT
+1
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Post by retiredat48 on Mar 20, 2021 21:46:30 GMT
long term Capital gains tax rate for married filing jointly with income less than 80,000 is 0%. So if some year i am out of job or i am retired I can sell my stocks and pay 0% tax on gains? Indeed. And if one retires early, they have the entire age sixties into age 72, to do this minimization of taxable income, before RMDs start. Good time to convert Trad to Roth IRA as well. Even if you retire at age 66, you have several years to accomplish this resetting of basis in long-held stocks or stock funds. BTW I am now about 95/5...that is, only 5% of assets are in taxable accounts. Spent taxable in 27 years of withdrawing to live on. R48 |
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Post by Chahta on Apr 12, 2021 0:21:26 GMT
If you plan your early retirement years carefully you can pay 0% CG tax. I did just that for 2020. I live on SS and saved cash (taxable account). I captured a nice CG and reset my cost basis on a long held fund.
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