I have $1,265 in short term stock gains and $412 in long term losses, resulting a net short term gain of $853. What amount will I have to pay in capital gains taxes on and at what tax rate if I'm a jointly filer with 2012 adjusted gross income of $55,000 to $65,000?

ANSWER

The BIDaWIZ Team's Answer:

If your income is $55,000 to $65,000 and you file jointly with your spouse, then you are in the 15% marginal tax rate since your income is within the $17,401-$70,700 IRS income tax bracket for 2012. Therefore, the $853 net short capital gain would be taxed 15% which would result in $128 total capital gains tax liability for 2012.