fisemper
Recycles dryer sheets
I'm looking to find a good site that includes the NIIT paid on top of capital gains. I just found out about this tax this week and it put a major dent in my plans so I need to go back and readjust. IRS website only shows this as additional medicare tax. Based on my situation and depending on outcome(sell price/time), I'm expecting an extra 17K-33K that will need to be paid, yet the IRS estimate was just over 4K, but overall tax was very high.
I have this set up on my investment spreadsheet, but would like to know I am doing the calculations correct. I'm going with anything over the $250K (married joint) limit being 3.8% additional. (How is this not double taxation)
I have this set up on my investment spreadsheet, but would like to know I am doing the calculations correct. I'm going with anything over the $250K (married joint) limit being 3.8% additional. (How is this not double taxation)