Will Capital Gain Tax Change in the Next Couple of Years

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blackwhisker
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Will Capital Gain Tax Change in the Next Couple of Years

Post by blackwhisker » Sat Oct 12, 2019 3:20 pm

Is the current long term capital gain tax rate relatively low compare to historical average? Is it likely to change in the next few years? (I understand no one has a crystal ball, but it would be helpful if someone can explain different possible scenarios)

There is a possibility I might sell my house in the next few years. I have run the numbers in Turbo tax and know how much capital gain tax I need to pay under the current tax rate. But I would like to be mentally prepared if the long term capital gain tax rate is likely to change.

Thank you.

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RickBoglehead
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Re: Will Capital Gain Tax Change in the Next Couple of Years

Post by RickBoglehead » Sat Oct 12, 2019 3:30 pm

Cannot speculate on tax law changes.
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Silk McCue
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Re: Will Capital Gain Tax Change in the Next Couple of Years

Post by Silk McCue » Sat Oct 12, 2019 3:45 pm

If this is your primary home there is a $250k/$500k exemption for filing Single/MFJ. If you replace the home any excess can be avoided from taxation depending upon the amount.

Current tax law and prior to TCJA of 2017 both support that. No reason to believe this will be changed. Just assess it against the current law and long held exemptions.

Cheers

runner3081
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Re: Will Capital Gain Tax Change in the Next Couple of Years

Post by runner3081 » Sat Oct 12, 2019 3:48 pm

My magic ball is not working... in before the lock.

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oldcomputerguy
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Re: Will Capital Gain Tax Change in the Next Couple of Years

Post by oldcomputerguy » Sat Oct 12, 2019 3:57 pm

This topic has run its course and is locked. Basing financial and investing decisions on conjecture can result in members making bad financial decisions to their detriment. For that reason, forum policy prohibits speculation on changes in tax laws or discussions of proposed or pending legislation. See Unacceptable Topics:
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