What time is Donald Trump's inauguration as President? Who is attending and all you need to know about the schedule as he takes office in 2017. US President-elect Donald Trump will take office on January 20. Here are the traditions and quirks of the day - plus how to watch the Inauguration in the UK.
The election to pay tax at the rate of 5.85% does not apply to items of income taxed at 12% (short-term capital gains and gains on collectibles and pre-1996 installment sales.). 1  M.G.L. 2  Chapter 62, Section 4 as amended by St. 2000, c. 343, s. 3  1; as amended by St. 1999, c. 127, ss.
When you sell stocks or funds, the profits will increase your taxable income. To pay no taxes on the sale, you'll have to calculate the amount of gains you can take before your income exceeds the threshold. Let's say your adjusted gross income (AGI) is $60,000. Assuming you're both 65 or older, your standard deduction and exemptions will knock your taxable income down to $37,600.