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Need some quick tax planning advice - LT cap gains
Posted on 12/27/13 at 6:36 pm
Posted on 12/27/13 at 6:36 pm
I'm closing on a home purchase in early January and will be cashing out some long-term investments for use as down payment. There will be some significant LT gains tax when I sell, which I want to minimize, but also defer as much as possible.
My current plan is to sell in January - two questions:
1) I read that the 2014 LT cap gains rate is still set at 15%, unless you're in the top tax bracket... is that correct?
2) Can I forego making estimated tax payments on the gains under safe harbor provisions, and just settle up when I do my 2014 return in 2015?
My current plan is to sell in January - two questions:
1) I read that the 2014 LT cap gains rate is still set at 15%, unless you're in the top tax bracket... is that correct?
2) Can I forego making estimated tax payments on the gains under safe harbor provisions, and just settle up when I do my 2014 return in 2015?
This post was edited on 12/27/13 at 6:38 pm
Posted on 12/27/13 at 10:08 pm to sneakytiger
yes, and yes
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