So I have some long term capital gains this year, and was expecting to have to pay taxes at the 15% or 20%, potentially +3.8% net investment income tax described here:
Instead, TurboTax and online tax calculators have me paying much higher taxes.
Could someone help me understand the discrepancy?
Here's a screenshot of an example (all these numbers are completely made up I don't make even close to that much money). Regardless, I'm totally confused as to what that effective tax rate is, and why it's so high.
Thanks!
Submitted March 04, 2017 at 12:51PM by firedancer414 http://ift.tt/2mZkV6k
