Hopeful
Recycles dryer sheets
- Joined
- Aug 6, 2013
- Messages
- 213
One area of knowledge that I have always been weak on is taxes. I always do my own taxes with TurboTax. I know it is not the best scenario doing something myself that I have little knowledge of.
My question is related to LT capital gains. I have a portion of our portfolio still in individual stocks. I would like to eventually transition that to my index funds in line with my set AA. Of the approx $400K there would be around $145K that would be LT capital gains.
Would this capital gains increase our marginal tax rate? Would it affect AMT? Would I be better off selling in portions over a number of years?
Currently our AGI is around 185K a year, and we have avoided AMT.
I should probably bite the bullet and consult a tax advisor. I know I can run the numbers in Turbotax, but without understanding how it comes up with the results it is hard to base decisions on it.
I don't know why taxes are so difficult for me to wrap my head around. Any advice would be appreciated.
My question is related to LT capital gains. I have a portion of our portfolio still in individual stocks. I would like to eventually transition that to my index funds in line with my set AA. Of the approx $400K there would be around $145K that would be LT capital gains.
Would this capital gains increase our marginal tax rate? Would it affect AMT? Would I be better off selling in portions over a number of years?
Currently our AGI is around 185K a year, and we have avoided AMT.
I should probably bite the bullet and consult a tax advisor. I know I can run the numbers in Turbotax, but without understanding how it comes up with the results it is hard to base decisions on it.
I don't know why taxes are so difficult for me to wrap my head around. Any advice would be appreciated.