This video is the most clear and concise that I have seen on these subjects. Most videos imply that the provisional income calculation is a cliff, and you demonstrate how it’s marginal, just like tax brackets.
Thanks for adding a explanation of the cap gains into the mix. I'm doing roth conversions and trying to optimize my situation. Too much conversion you put your 0% cap gains into the 15 % bracket.
In addition to the 80,000, (assuming no income) they also have the standard deduction to add to this, making this a bit over a 100,000 step-up process each year.
Single taxpayer retired with exactly zero income for last several years in 2022 realizes a $200,000 long term capital gain on a commercial real estate sale. First $40k tax free, next $160k taxed at 15%? Thanks for the good vids.
Great presentation. I'm only confused about the non-taxable interest. Is that only used, stacked at the top, in calculating provisional income for taxable social security? That just seem odd to be included, but apparently other non-taxable income, like qualified dividends are not? Also, at the very end when you popped up the RMDs, I assume those will be smaller due to the Roth conversions, so the social security wouldn't take as big of a tax hit.
This video is the most clear and concise that I have seen on these subjects. Most videos imply that the provisional income calculation is a cliff, and you demonstrate how it’s marginal, just like tax brackets.
This is explained well. I can’t believe there is so few views
Thanks for the feedback.
This is exactly the information I needed to find. Thank you!!!
Thanks for adding a explanation of the cap gains into the mix. I'm doing roth conversions and trying to optimize my situation. Too much conversion you put your 0% cap gains into the 15
% bracket.
I thought this was very well done. Thank you! I wish you included examples for a single filers who are on disability and under age 65.
Great Video. I learned alot. thank you
In addition to the 80,000, (assuming no income) they also have the standard deduction to add to this, making this a bit over a 100,000 step-up process each year.
correct
Single taxpayer retired with exactly zero income for last several years in 2022 realizes a $200,000 long term capital gain on a commercial real estate sale. First $40k tax free, next $160k taxed at 15%?
Thanks for the good vids.
that assumes you have no other income sources. Other ordinary income will reduce the amount in the 0% cap gains bracket
Thank you for taking the time to reply. Best.
Great presentation. I'm only confused about the non-taxable interest. Is that only used, stacked at the top, in calculating provisional income for taxable social security? That just seem odd to be included, but apparently other non-taxable income, like qualified dividends are not?
Also, at the very end when you popped up the RMDs, I assume those will be smaller due to the Roth conversions, so the social security wouldn't take as big of a tax hit.
They get you one way or another it seems. That is municipal bond interest.
Remember, married filing jointly has different brackets than filing single.