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Posted On: 03/15/2021 3:28:29 PM
Post# of 86052
In California where live - there is 14% State Tax in addition to the current 20% Long Term Capital Gains tax - so I know that I will only keep 66%.
Based on the "experts" I spoke to - no one thinks that the Capital Gains Rate will retroactively be changed to Jan 1, 2021 as is part of the new Tax Plan and that it will only happen for the 2022 tax year. I hope this is correct.
If the Capital Gains Tax is changed retroactively to Jan 1, 2021, then I will probably end up paying 55% in taxes.
Based on the "experts" I spoke to - no one thinks that the Capital Gains Rate will retroactively be changed to Jan 1, 2021 as is part of the new Tax Plan and that it will only happen for the 2022 tax year. I hope this is correct.
If the Capital Gains Tax is changed retroactively to Jan 1, 2021, then I will probably end up paying 55% in taxes.
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