<h1>Navigating Capital Gains and Tax Implications</h1>
Tyler?
Yep.
Looks like you had $700,000 of capital gains this year. You owe us $140,000 in taxes.
No.
$50,000 of that is unrealized gains in the stock market. I'm giving that to my daughter when I die.
$90,000 of that will be directly offset by $90,000 of losses that I locked in in stocks and then reinvested elsewhere.
$500,000 of that is from my wife and me selling our home. That $60,000 you can’t touch because it’s long-term capital gain.
And I make under $41,675 in taxable income a year.
But plus that $60,000 and you make over $100,000.
No, because I put that $60,000 directly into my SEP IRA because I'm self-employed.
You have zero capital gains to report?
Yep.
Didn’t you write the tax code?
We didn’t think anyone would actually read it.