Cashing out long term capital gains question



  • According to h&r block website

    2018 Long-Term Capital Gain Rates

    0% if your income is below $38,700 and you are filing as single (or over $77,400 for married filing jointly) 15% if your income is between $38,701 and $500,000 you are filing as single (or between $77,401 and $600,000 for married filing jointly) 20% if your income is over $500,000 and you are filing as single (or over $600,000 for married filing jointly)

    I am interpreting this two ways and not sure which is correct.

    Does the yearly income count separately from cashing out? If I make less than $38k then my cash out is taxes at 0%?

    Or does this mean that up to $38k cash out I am not taxed?

    Someone told me that in Florida you are not taxed on any capital gains if you have been unemployed for more than a year, is this true?

    submitted by /u/ThickDiggerNick
    [link] [comments]

    https://www.reddit.com/r/Ripple/comments/9hilz2/cashing_out_long_term_capital_gains_question/



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