Thank you, this is what I've been looking forThe amount of federal tax owed as a result of the gain will depend on several other factors, including your filing status and the amount of your AGI/taxable income before adding the gain.
With the information provided, I would estimate the federal tax as a result of the gain to be at least in the neighborhood of $95K. If your income is high before adding the gain, the amount could be higher by as much as $20K to $25K.
Statistics: Posted by dmk395 — Wed Apr 10, 2024 2:42 am — Replies 12 — Views 1397