It's my understanding that, "In 2024, single filers with a taxable income of $47,025 or less...pay 0% on qualified long-term gains."
Is it therefore a no-brainer to sell (if they had this much) up to $47k in ltcg in my kids' regular/taxable brokerage account, and file a return for them?
This way they'll pay no tax on it and raise their cost basis (so they will pay less in the future when they sell and have other income).
Thank you.
Is it therefore a no-brainer to sell (if they had this much) up to $47k in ltcg in my kids' regular/taxable brokerage account, and file a return for them?
This way they'll pay no tax on it and raise their cost basis (so they will pay less in the future when they sell and have other income).
Thank you.
Statistics: Posted by newbie003 — Tue Dec 10, 2024 8:24 am — Replies 3 — Views 128