Well, let's see ....
$45,000 contributed to 401(k) plans, that was tax-free
$07,250 contributed to HSA, that was tax-free
$01,500 contributed to FSA, that was tax-free
$10,000 paid for tuition, that was tax-free
$13,000 paid for property taxes that was tax-free
$01,800 paid for health insurance premiums that was tax-free
$15,200 in exemptions/allowances that was tax-free
$06,250 in gains in 529 plan withdrawals, that was tax-free
The above doesn't count unrealized capital gains which are tax-free until realized.
So that's about $100,000 in tax-free income for 2012. I did not include other tax-free income to get above the standard deduction and into itemize land.
Well, I guess I was talking about gains and dividends taxed at 0%Well, let's see ....
$45,000 contributed to 401(k) plans, that was tax-free
$07,250 contributed to HSA, that was tax-free
$01,500 contributed to FSA, that was tax-free
$10,000 paid for tuition, that was tax-free
$13,000 paid for property taxes that was tax-free
$01,800 paid for health insurance premiums that was tax-free
$15,200 in exemptions/allowances that was tax-free
$06,250 in gains in 529 plan withdrawals, that was tax-free
The above doesn't count unrealized capital gains which are tax-free until realized.
So that's about $100,000 in tax-free income for 2012. I did not include other tax-free income to get above the standard deduction and into itemize land.
How many enjoyed tax free income this year. Being in the 15% bracket I was able to add 6000 dollars in capital gains and dividends to supplement my pension.