What are the tax repercussions with obamacare if i sell my mineral rights in texas?(i make approx 28000 yr and rights worth §15000}
are you married filing joint , head of household or single? Your minerals are taxed as capitals gains, which there are three tax brackets. 0, 15% and 20%. Depending on which you file as, will determine if you have to pay any tax at all
Also, you don’t pay tax on the full 15k. You pay tax on the difference between what you sold them for and what they were worth when you inherited them or what you paid for them