Solved
Capital gains rate too high?
I realized a capital gain on stocks I sold in 2023. I held these stocks for more than a year before selling so the gain should be considered a long-term gain as far as I understand.
When I enter the sales into Turbo Tax, the total tax rate is higher than expected. When doing the math, it appears that I am being taxed at a rate of almost 24% ($18K in taxes against a $74K long-term gain). Based on my income this year, I should be at the 20% capital gains tax rate.
What am I missing here?
