urn2bfree
Full time employment: Posting here.
- Joined
- Feb 14, 2011
- Messages
- 853
As I recall. Obgyn65 is getting $$$ from Cd and other interest vehicles which would tax the Gains at higher ordinary income rates, but still much of the money from a CD for example is return of principle and not subject to taxation.
I am torn between overestimating the tax rate and counting on a pleasant surprise, vs accurately determining as best I can what it would be. I made a best guess estimate using the Turbo Taxcaster--based on our dividends from last year and then adding some cap gains minus the many many capital losses we have to offset those gains, plus another $3000 from the trad IRA which could also be offset by cap losses from the past and came to pay ZERO...ZIP...!! Nothing really ? It seems correct. now eventually I will not have the cap losses but for the first few years I will have cap losses enough to Eliminate any income above our dividends from cap gains
I am torn between overestimating the tax rate and counting on a pleasant surprise, vs accurately determining as best I can what it would be. I made a best guess estimate using the Turbo Taxcaster--based on our dividends from last year and then adding some cap gains minus the many many capital losses we have to offset those gains, plus another $3000 from the trad IRA which could also be offset by cap losses from the past and came to pay ZERO...ZIP...!! Nothing really ? It seems correct. now eventually I will not have the cap losses but for the first few years I will have cap losses enough to Eliminate any income above our dividends from cap gains