Follow these detailed steps with screenshots for how to adjust the cost basis in TurboTax when you sell ESPP shares. Otherwise you will get double-taxed.
How to Do 2021 ESPP Sale In H&R Block: Don’t Pay Tax Twice!
Follow these detailed steps with screenshots for how to adjust the cost basis in H&R Block when you sell ESPP shares. Otherwise you will get double-taxed.
Roth Conversion and Capital Gains On ACA Health Insurance
Use this calculator to see the marginal tax rate on Roth conversions and long-term capital gains when you also receive a subsidy on ACA health insurance.
2020 2021 2022 ACA Health Insurance Premium Tax Credit Percentages
If you get health insurance from ACA, the government sets the percentages of income you are expected to contribute toward a benchmark policy.
California and New Jersey HSA Tax Return Special Considerations
When you are a resident of California or New Jersey, having an HSA and especially investing in the HSA require extra tax reporting. Here’s how to do it.
Calculator: Sell Your Home For Tax Free Capital Gains
This calculator helps you decide whether you should sell and re-buy your home in order to eliminate or reduce future capital gains tax.
Change Your Cost Basis Method From Average Cost To Specific Identification
Vanguard, Fidelity, and Schwab default cost basis tracking method to average cost for mutual funds. Here’s how you can change it to specific identification to minimize taxes.
Reset Cost Basis Higher By Realizing Capital Gains
When you are in the 15% tax bracket or below, long-term capital gains are taxed at 0%. Take advantage of the tax-free capital gains and reset your cost basis higher.
Converting to Roth and Harvesting Capital Gains Under Obamacare ACA Premium Subsidy
You will pay an extra 10-15% tax if you convert to Roth or realize capital gains while you receive the premium subsidy under the ACA.
Happy Trails With Income Poor
This is the third and final installment on my Asset Rich Income Poor strategy. The road to asset rich sounds simple at a high level but it’s not that easy at the details level, because every decision you make has tradeoffs. The tradeoffs affect the final outcome in ways you can’t know for sure. I […]
Fiscal Cliff Deal and Dividends and Capital Gains
Today we look at how dividends and capital gains will be taxed after the fiscal cliff deal, officially known as the American Taxpayer Relief Act of 2012. Don’t be surprised it gets a little more complicated. First of all when I say dividends and capital gains, I’m referring to qualified dividends and long-term capital gains. […]
ACA 3.8% Medicare Tax and Alternative Minimum Tax (AMT)
Now that the health care reform law is upheld by the Supreme Court, the 3.8% Medicare tax on unearned income for high earners is also here to stay. It will come into effect in 2013. Just to recap, the chart below shows how it works: The tax is on unearned income — interest, dividend, capital […]