LogFAQs > #980078200

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Topic	President Biden proposes a 44.6% capital gains tax, the highest in history
BDSMKane 04/24/24 8:33:29 PM #37:	emblem-man posted... Retirement stuff is usually taxed as income, not as capital gains. Capital gains would be from the sale of a stock. You don't pay capital gains when you sell stock in your 401k, you only get taxed when you withdraw it, and it would be income at that point. The tax free capital gains of 401k plans is one of the largest benefits of it compared to a regular brokerage account. And regardless, you wouldn't pull your whole 401k amount at once. You'd pull out annually, whatever amount you think you'll need. Thanks for further elaboration. --- No matter our origin, we are all one family, we all share one planet, and we all need to feel loved and accepted. We are more alike than different. <cite>BDSMKane posted [p:980078200] in President ... [t:80754685]...</cite> <quote>emblem-man posted... </cite><quote>Retirement stuff is usually taxed as income, not as capital gains. Capital gains would be from the sale of a stock. You don't pay capital gains when you sell stock in your 401k, you only get taxed when you withdraw it, and it would be income at that point. The tax free capital gains of 401k plans is one of the largest benefits of it compared to a regular brokerage account. And regardless, you wouldn't pull your whole 401k amount at once. You'd pull out annually, whatever amount you think you'll need.</quote>Thanks for further elaboration. --- No matter our origin, we are all one family, we all share one planet, and we all need to feel loved and accepted. We are more alike than different.</quote> ... Copied to Clipboard!
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