Lisa99
Thinks s/he gets paid by the post
- Joined
- Aug 5, 2010
- Messages
- 1,440
This is our first full year of retirement. I'm considering pulling some money out of investments and just ran Tax Caster to determine tax impact but I'm not understanding the result.
Income from pension and dividends = $24000 No taxes paid this year.
If we stop there we owe zero taxes in 2017.
Looking at pulling money out of after-tax Vanguard fund. Long-term capital gain is $25,000 ish.
Tax Caster is saying that we would owe $2900 in federal income tax based on the new "income". I thought that as long as you were below the 15% threshold that long-term capital gains were not taxed.
Sorry for such a simple question. I feel like I'm back in 2010 and trying to figure out whether I should leave Ameriprise (total noob).
What am I not understanding?
Income from pension and dividends = $24000 No taxes paid this year.
If we stop there we owe zero taxes in 2017.
Looking at pulling money out of after-tax Vanguard fund. Long-term capital gain is $25,000 ish.
Tax Caster is saying that we would owe $2900 in federal income tax based on the new "income". I thought that as long as you were below the 15% threshold that long-term capital gains were not taxed.
Sorry for such a simple question. I feel like I'm back in 2010 and trying to figure out whether I should leave Ameriprise (total noob).
What am I not understanding?
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