Tax Law (Questions About Taxes)/Stock sale

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Question
if selling a large sum of stock ( owned several years) and you pay 20% tax. Does this amount raise the tax bracket on your salaried income? The worksheet is not that clear to me. Thanks

Answer
Ruth:

You will not know for sure until you sell determine what you will be reporting for tax purposes what your finial tax rate will be.  You can use a 1040 form as a guide to calculate your tax liability based on what you think you sale price of the stock will be.

John  

Tax Law (Questions About Taxes)

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John L. Tidwell

Expertise

Unemployment tax law both state and federal; determination of employer employee relationship; the usual 20 commonlaw factors for making that determination; and what makes me a liable employer.

Experience

Over 20 years of field audit experience with a state agency

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none

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Education/Credentials
Degree in Accounting from Falls Business College

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