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Lets say I am married and retire in 10 years at the age of 55 with a 1 million portfolio of just stocks giving me a return of 5% yearly or 50k.
From what I am reading provided if i were to sell anything that qualified as long term from my portfolio yearly i would pay 0% tax if i had NO other income at the age of 55 since being married i would be under the 77,200 income limit for 0% capital gains?
In theory i think it could be closer to selling 100k in stock a year if the married couple took the standard deduction pushing their net income to 75k?
Fantastic news if true.
From what I am reading provided if i were to sell anything that qualified as long term from my portfolio yearly i would pay 0% tax if i had NO other income at the age of 55 since being married i would be under the 77,200 income limit for 0% capital gains?
In theory i think it could be closer to selling 100k in stock a year if the married couple took the standard deduction pushing their net income to 75k?
Fantastic news if true.