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Printable Form 4972 Simi Valley California: What You Should Know
Income is subject to the 10&15% tax brackets, except those in the 6&8% bracket (2.5% each) which will be taxed on the first 6,000 and each 2,400 dollar over. May 15, 2022- Form 4972 May 15, 2025 β If your annual net income, before deductions, is in excess of 75,000 (up to 200,000 if married filing jointly), you may qualify for the 20% capital gain election. May 15, 2025 β You are still obligated to pay the alternative minimum tax. May 15, 2025 β For more information on the alternative minimum tax, see Form 8962, Alternative Minimum Tax (PDF) (1 page). May 16, 2025 β If your net income is 100,000 or more (or 200,000 when married filing jointly), you may qualify to claim the 10% maximum bracket and the 15% maximum bracket or the 0% brackets. May 18, 2025 β If you qualify for the 10% maximum bracket, you pay a 30% tax on the amount over 600,000 (or 800,000 when married filing jointly). May 23, 2022- Form 4972 May 23, 2025 β If your average adjusted gross income (AGI) is in excess of 400,000 (or 600,000 if married filing jointly) or 2 million or more (or 2 billion when married filing jointly), you may qualify to claim the 20% capital gain election. May 23, 2025 β Your income is subject to the standard tax rate plus 0.8% to offset the additional 15% tax. May 24, 2025 β You are still obligated to pay the alternative minimum tax. May 27, 2025 β For more information on the alternative minimum tax, see Form 8962, Alternative Minimum Tax (PDF) (1 page). May 30, 2022- Form 4972 May 30, 2025 β If your average adjusted gross income (AGI) is in excess of 400,000 (or 600,000 if married filing jointly) or 2 million or more (or 2 billion when married filing jointly), you may qualify to claim the 20% capital gain election. May 30, 2025 β Any additional amount you may be eligible to claim under this program by filing Form 4972 is considered gain, and you pay capital gains tax on it, even if it does not exceed the 2 billion figures.
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