Secondary menu

Long term capital gain tax treatment

Submitted by kurt.parker@int... on 13 August 2006 - 8:55pm

I'm trying to put in a sale of stock that would be sold after being held for over a year. The closest I can get to in the choices in the special receipt categories is miscellaneous income, or even real estate sale (cap gain). In either case, there's three radio buttons under item 5, is this receipt...
1. non taxable, 2. taxed under ordinary rates, or 3. taxable at capital gain rates.

Choosing taxable at capital gain rates, I end up paying almost 50% of the "income" in taxes. What happened to the nice 15% long term capital gain rates? This was a sale in 2008.

‹ Long Term Rental Income Input Problem New grow button ›
Submitted by Laurence Kotlikoff on 19 August 2006 - 9:46am.
1

Hi,

First, you can type in the field the name of your special receipt. You don't need to choose one of the types in the pull-down list.

Second, we are applying a 15 percent long-term rate. If you aren't seeing that in the results, please call me at 617 834-2148 and we'll go over it or email me at eval(unescape('%64%6f%63%75%6d%65%6e%74%2e%77%72%69%74%65%28%27%3c%61%20%68%72%65%66%3d%22%6d%61%69%6c%74%6f%3a%6b%6f%74%6c%69%6b%6f%66%66%40%62%75%2e%65%64%75%22%3e%6b%6f%74%6c%69%6b%6f%66%66%40%62%75%2e%65%64%75%3c%2f%61%3e%27%29%3b')). In the meantime, we'll double check this on our side.

If there is a bug in this, we'll post an update immediately as in later today.

best, Larry

Submitted by kurt.parker@int... on 23 August 2006 - 10:11pm.
2

Thanks for correcting this. I checked it out tonight and it's now using the correct long term capital gains rate.

Share this

Navigation