Post #30 by hardwaterruss on the Tax Strategies board

Personal Finance Topics / Tax Strategies

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Sadly you will have to pay Capital Gains Taxes (Schedule A + IRS form 8949) on everything you sell regardless of what you plan to do with the $'s after the fact.

From a Google Search:
What is the rule for capital gains tax?
It is owed for the tax year during which the investment is sold. The long-term capital gains tax rates for the 2023 and 2024 tax years are 0%, 15%, or 20% of the profit, depending on the income of the filer.1 The income brackets are adjusted annually.

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