Tax Law (Questions About Taxes)/Capital gains taxes


I am on SSD, earning $9,600 per annum. That is my sole income. If I were to be given some long term stocks to sell and incur a capital gain of $50,00 would i have any tax liability?
I am in the zero percent tax bracket and understand that capital gains in that bracket are not taxable.

Would the $50k still have to appear on a tax return or is my tax liability still limited to the original $9,600?

Thank you so very much for your time.


Thanks for your question.

You would owe taxes on the gain to the extent your marginal tax bracket exceeded 15%.  For a single person, the 15% bracket starts at 36,900 of taxable income.  After the standard deduction and personal exemption, that would leave you with a taxable income of #13,050, which would be taxed at 15%

Hope this helps.

John Stancil, CPA  

Tax Law (Questions About Taxes)

All Answers

Answers by Expert:

Ask Experts


John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

FICPA, NATP, NCPE Fellowship, Lakeland Business Leaders

The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

©2017 All rights reserved.