ira smilovitz said:

And don't rely on this post either. Long term capital gains are

taxed at a maximum rate of 15%, not 20%.

Well, a maximum NOMINAL rate of 15%, anyways

The experienced marginal rate can be significantly higher.

For example, you have someone who itemizes, has medical deductions in

excess of 7.5% of their AGI, and who collects social security and has

some SS benefits subject to tax.

Say such a person has an additional $100 of LTCG. That will increase

their non-SS AGI by $100. Which will increase the amount of SS

subject to tax by $50-$85 (let's use $50 for now). So AGI will

increase by $150. That increase will reduce the allowable medical

deduction by 7.5% of $150 or $11.

So the $100 additional LTCG will increase taxable income by $161.

$100 of that is the LTCG and will be taxed at 15%, or $15. The other

$61 is taxed as ordinary income and will be taxed at, say, 25% (to be

subject to the 15% rate on LTCG you have to be in at least the 25%

bracket). 25% of $61 is $15.

Thus that extra $100 of LTCG ends up increasing your tax by $30. So

even though the "advertised" tax rate on your LTCG is 15%, you

actually experience a 30% marginal rate on your LTCG.