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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Capital Gains tax with no income Posted by Capital Gainer on October 23, 2003 at 11:58 AM I made 0 income this year because I was laid off late last year. I stand to make about $50,000 on a long term investment (held more than 12 months) that I will sell this year to cash in. Now because I had no income I'm wondering if this 50,000 will be taxed at the capital gains tax (15%) or will they say its being used as income (because I had no other income) and tax at the income tax rate (15/28/31/etc.). I'm not sure how this works someone please enlighten me. Thank you. Follow Ups: Re: Capital Gains tax with no income steve 4:47 PM, 10/23/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : I made 0 income this year because I was laid off late last year. I stand to make about $50,000 on a long term investment (held more than 12 months) that I will sell this year to cash in. Now because I had no income I'm wondering if this 50,000 will be taxed at the capital gains tax (15%) or will they say its being used as income (because I had no other income) and tax at the income tax rate (15/28/31/etc.). I'm not sure how this works someone please enlighten me. Thank you. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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