- How do I start to calculate 2019 Taxes ? I want to do Roth Conversion without crossing the 22 % Tax Rate.
- Can anyone please suggest a simple method to do that ?
Close enough numbers will be fine.
- We are retired, 63 & DW 58, estimated passive income from Dividends & Interest is around $75k for this year 2019. I do not see any other taxable income in 2019.
- Do not expect any cap gains Tax in the Taxable accounts this year
- No rental property, no dependents
- Just 1099s from Vanguard Investments & Bank CDs + savings in 3 Banks
- I want to start doing taxes for myself using Turbotax for 2019 & not go an Accountant. Married Filing Jointly. The top number for 22 % marginal Tax Rate is around $168 k.
-Does it mean I have room of about $ 93k for the Roth Conversion. ? For the taxable income I deduct the Standard Deduction of $24k ?
What am I missing ?
I know it is a simplistic question to complex calculations, but I will appreciate any pointers for me to start working on .
Thanks
- Can anyone please suggest a simple method to do that ?
Close enough numbers will be fine.
- We are retired, 63 & DW 58, estimated passive income from Dividends & Interest is around $75k for this year 2019. I do not see any other taxable income in 2019.
- Do not expect any cap gains Tax in the Taxable accounts this year
- No rental property, no dependents
- Just 1099s from Vanguard Investments & Bank CDs + savings in 3 Banks
- I want to start doing taxes for myself using Turbotax for 2019 & not go an Accountant. Married Filing Jointly. The top number for 22 % marginal Tax Rate is around $168 k.
-Does it mean I have room of about $ 93k for the Roth Conversion. ? For the taxable income I deduct the Standard Deduction of $24k ?
What am I missing ?
I know it is a simplistic question to complex calculations, but I will appreciate any pointers for me to start working on .
Thanks