Determining the tax impact of selling an investment can sometimes be complicated. There are several questions to ask a client to ensure that the tax liability on the sale of an investment is calculated correctly.
To help make this analysis with clients easier, we have created the “Will I Have To Pay Tax On The Sale Of My Investment?” flowchart. It addresses some of the most common issues that arise for a client trying to understand the tax impact of selling an investment. This flowchart considers the following:
- Capital gain versus capital loss
- Long-term versus short-term status
- Tax brackets and applicable rates
- Medicare Surtax calculation
Download the flowchart
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James Grennen is a Certified Financial Planner (CFP®) in Long Island who has over four decades of financial advisor experience, as well as being a U.S. Department of the Treasury certified Enrolled Agent.
Equally important, James is a fee-only special needs financial planner. That means your loved one will have a plan designed with their best interest in mind. Nothing more, nothing less.
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