Capital gains rate

The tax rate on LTCG is 0% until your taxable income reaches the top of your 15% tax bracket (including the MET gain). Any excess is taxed at a maximum of 15% (until you get into AMT territory where the phaseout adds about 10% to some of your LTCGs).

You don't give enough info to advise you exactly on estimated taxes, but if you paid 1/4 of last year's tax amount each quarter, either in withholding or installments, you'll have no penalty. Same if 1/4 of

If neither of these work for you considering the new MET gains (but would otherwise) pay an installment of 15% (of 0% if you're still under your 24% bracket) of the MET gain on January 15, 2009. Use voucher 1040ES. See instructions for form 2210 and/or Publication

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P.S. Due to recent court case the gain may be less than the total sale price of MET stock, but no one knows the exact amount. But, it seems like it would be better to pay LTCG tax rate on MET stock which would reduce amount of ordinary tax rate gain on the Life Insurance should you cash it in. Depends on how long you had it, your net gain, and if you cash the policies in rather than die (death benefit not taxable but net gain on cashed in posicy is taxable)..

I have about 1250 shares of MET from New England life (I was their agent) which merged with MET and I don't intend to sell ANY of it, but to each his own.

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