Cashing out long term capital gains question
CFCC News Bot last edited by
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?
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