Can large long-term capital gains be offset by not being employed?
If I understand correctly, you pay 0% long-term capital gains tax if you are in the 10% or 15% income tax brackets (i.e. if you make ,450 or less).
If I knew I had to sell my stock that had, say, M of capital gains, could I simply not work (or work so little that I made less than ,450) for the year I sold it, and pay [CO] in tax instead of 0,000?
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No.
M income already puts you in the highest income tax bracket, so your capital gains tax would also be the highest + medicare.
While the capital gains are taxed at special rates, they do affect your AGI. The special rates for capital gains are based on the AGI. It is only if your AGI is less than that amount will you pay 0% capital gains tax.
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