Do capital gains count as income?
Asked by: proffr
Do capital gains count as income? Ie; if your income is $ 449,999 or less you pay 15% on capital gains held over 1 year. And 20% if your income is more than that. So if I make 1 million in the market, and hold for a year and my income from my job is 100k do I pay 20% or 15%? Would it count as income the following year? Would I be considered “rich” and since I made $ 1,000,000 in capital gains in 2013 fall in the category of earning over $ 450,000 and then be in the 20% capital gains tax bracket in 2014? Thank you
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