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Half of it? Is he not in the US? Isn't US capital gains tax 15%? Surely that means he kept 85% after taxes.
by vampirechicken 14y ago
Half of it?
Is he not in the US?
Isn't US capital gains tax 15%?
Surely that means he kept 85% after taxes.
- ChuckMcM 14y agoHe held it less than a year, it is ordinary income, so 38% to the fed and 11% to the state (49% total) and with that amount of income on the adjusted gross income line he gets no deductions.
- vampirechicken 14y agoIf I only got to keep 2 million of my four, I'd cry all the way the bank. Thanks for the correction. I don't do Schedule D stuff anymore, so I'm not hip to the lingo.