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Old 12-08-2019, 01:25 PM   #21
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Yes, not on ordinary income. However, the NIIT calculation is based on your AGI which includes both. So as your ordinary income increases, whether due to starting SS and/or RMDs, your long-term capital gains/qualified dividends can be “pushed up” such that it crosses that threshold.
Thank you.
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Old 12-08-2019, 02:00 PM   #22
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Thanks Gumby. This is most excellent and is being printed to put in my magic money old-fashioned 3-ring notebook under the TAX tab.
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Old 12-08-2019, 02:45 PM   #23
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+1. Thanks Gumby. I need to know income limits, SS, and tax rates in 2020.
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Old 12-08-2019, 03:58 PM   #24
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For those still working there is also a .9% Medicare tax surcharge which is on wages, compensation and self employment wages over 250k. Employers must start withholding at 200k.
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Old 12-08-2019, 05:32 PM   #25
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Here s a good summary of the inflation adjusted tax changes for 2020
https://taxfoundation.org/2020-tax-brackets/
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Old 12-08-2019, 05:38 PM   #26
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Old 12-08-2019, 06:25 PM   #27
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I'm depressed.


I’m relieved. I paid all those “special” taxes during my w*rking years —NIIT, Medicare surcharge tax, alternative minimum tax, but not IRMAA (yet). It was one of the best feelings to be finally rid of those costs when FIREd.
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Old 12-09-2019, 05:22 AM   #28
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This is a great thread and should be a "sticky".
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Old 12-09-2019, 09:40 AM   #29
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Thanks Gumby for putting this together, and to the others with the updated numbers. Definitely a good tool for reference and planning purposes.
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Old 12-09-2019, 05:31 PM   #30
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Gumby, thanks for the effort. I copied it and sent it to a few friends.
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Old 12-10-2019, 07:10 PM   #31
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I love to see this calculation done for our Single and Widowed friends here.
Thanks anyway!
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Old 12-10-2019, 08:06 PM   #32
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Here's an interesting trigger that I just learned today:
My disabled brother's income is $500 a month over a threshold.

As a result, he must self-pay for a PCA to the tune of about $40K annually. So being over a threshold of $6000 a year forces him to pay $40K; just doesn't seem right. If his income was $6000 lower he'd get the PCA a no cost.

I am investigating this but I'm not sure how far I can get.

Just venting; sorry if I took this on a tangent.
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Old 12-10-2019, 09:02 PM   #33
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Eligibility for the American Opportunity Tax Credit phases out starting at $160K AGI I believe.
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Old 12-10-2019, 09:21 PM   #34
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Eligibility for the American Opportunity Tax Credit phases out starting at $160K AGI I believe.
Excellent addition to the list. Thanks.
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Old 12-10-2019, 09:55 PM   #35
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Here's an interesting trigger that I just learned today:
My disabled brother's income is $500 a month over a threshold.

As a result, he must self-pay for a PCA to the tune of about $40K annually. So being over a threshold of $6000 a year forces him to pay $40K; just doesn't seem right. If his income was $6000 lower he'd get the PCA a no cost.

I am investigating this but I'm not sure how far I can get.

Just venting; sorry if I took this on a tangent.
What is a PCA?
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Old 12-11-2019, 07:46 AM   #36
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What is a PCA?
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Old 12-13-2019, 08:06 PM   #37
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OP, thanks for putting this list together. I spent an insane number of hours this week trying to "thread the needle" for a Roth conversion before the EOY.

In the process, I ran across another phase out: For those with kiddos in college that have exhausted the 4 years of the AOTC, there's the Lifetime Learning Tax Credit (LLTC) that phases out for taxpayers with income between $58,000 and $68,000 (single) or $116,000 and $136,000 (MFJ). The income limits are adjusted annually for inflation.

The LLTC is 20% of qualified expenses up to a max tax credit of $2k per taxpayer or dependent per year.
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Old 12-14-2019, 12:02 AM   #38
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I have a similar list to the OP, but mine is for HOH and a family size of 4. Note that for the ACA related items, the FPL numbers change somewhat depending on whether you live in the lower 48, Alaska, or Hawaii.
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Old 12-14-2019, 09:02 AM   #39
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I love to see this calculation done for our Single and Widowed friends here.
Thanks anyway!



Subscribed in hope a single and widowed data may be added

Thanks
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Old 12-14-2019, 09:06 AM   #40
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Great summary, thanks for sharing!
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