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At 11:20 you say that taking a capital gains would make all of my SS taxable--but I'm not clear why. Isn't SS taxed in the same way as ordinary income? Thus it is taxed first at the lowest tax bracket and my capital gains are taxed next?

Add me to the list of people saying that this is the clearest explanation on RUclips! Presenting ordinary income and capital gains side-by-side made it easy to follow. I also appreciated the detailed presentation of how the long-term capital gains stack on top of ordinary income. Actually, both qualified dividends and long-term capital gains stack on top of ordinary income, but I recognize that you might confuse part of your audience by trying to clarify that. My only disappointment was noticing that only 4,700 people viewed the video. You deserve a much wider audience! Liked and subscribed.

Great video and very helpful, thanks! Unable to understand and find where the info is located in tax form, please elaborate a little more if possible.

Thank You for explaining this so clearly

Thats some good video!!!

This content was very informative and helpful, although not what I wanted to hear. I learned ordinary income is added to long term capital gains to determine the amount of tax liability. It is a double taxation, similar to social security provisional income calculation. All of these schemes are smoke and mirrors design to trick tax payers so the government can collect more tax revenue. I make over $200k and what to sell a rental, but with this new information, I will not sell it. The second thing I learned, one that I did not consider, was the impact on Medicare premium and AGI. The government sells the dream of property ownership and retirement investing, but don't mention taxes you will have to pay later until you retire. It is better to own nothing, stay out of debit, live within your means and only invest in ROTH IRA or ROTH 401k accounts. The was Federal Tax?., how does California tax capital gains when you sell a rental?

Ted - First time I caught one of your videos. Well done laying out the camptal gains brackets. I was able to jetason some stock options over the years at 0% when I retired at 60 ten yerears ago. Frankly - I educated myself and qualified for the 0% bracket keeping my totals under the IRMAA threshold. Again - excellent presentation!

This was really really good

Please do a 1040 with capital gains

So do you tax your ordinary income, then tax your dividends and gains. Then add the two tax amounts to get your total tax?

Thank you for this video. I retired from Graco last year after 31years and I executed the NUA strategy this last January. My question is in regards to the basis that is paid at ordinary income rates in the year of distribution. On which tax form is this basis reported? Was wondering if it's considered Additional Income on schedule 1, or a taxable Ira distribution on 1040, or somewhere on schedule D? Thank You

Awesome video ... short and sweet. I am looking forward to see more video relate to Capital gains and IRMMA tax. Thanks

My widowed mother died in January, how soon do I have to open an inherited IRA? Since no distribution was taken this year, do I, as the 72 year old son, have to take out a distribution this year or can I spread it out over the 10 years at my discretion??

Does the amount you withdraw every year have to be the same? My income varies from year to year (I'm an independent contractor). And is withdrawing as simple as logging into the account where the inherited IRA is and transferring $$ from it to for example a savings account? Thanks.

I finally understand who is required to pay the 3.8%. Thank you so very much.

Does the order have a transaction fee through Fidelity?

To minimize taxes they should both contribute max of $30k each of their 2023 traditional 401(k)s and $30.5k each to their traditional 2024 401(k) and may as well backdoor their $7,500 2023 Roth IRAs and $8,000 2024 Roth IRAs.

Another option if one or both spouses have 401(k)s: increase 401(k) contribution to maximum of $23,000 or $30,500.

excellent explanation

Really clear!

Is there a min amount of time you must be married to get the benefits of SS? Is it 10 years?

Isn't there a rule that a nonspouse inherited IRA is not subject to 10 year drain if nonspouse if less than 10 years younger?

I need finance planning of 26 years I can't get nothing sorted I need professionals I am from UK can't get the staff who qualified in pension investments

Single lived in a property for 51 years had nothing from it ended up homeless parents have died

Yup, PLANNING. I would suspect that many of the unfortunate cases you alluded to involve large discrepancies in net worth between the members of the couple. For the high net worth member, marriage is a high-risk, low reward proposition. IMO, it's unconscionable for the HNW member to not plan for their potential early demise and initiate the process of estate planning.

How to redeem the paper I bond without an account with the Treasury Direct?

I watched LOTS of videos about this subject and always came away feeling I was missing something. This was the first video that cleared up a lot of my questions & concerns about this subject. Thank you so much for your time & effort…I now understand 👍 Qualified dividends also fall into that ”Capitol Gains” bracket bucket as well…right?

Thanks for the video. For your examples, you're not considering the standard deduction in the MAGI?

It wont change calculations much but keep in mind the inflation adjustments are in $500 increments so they are not yearly if its less than that.

Great stuff here, I searched on google for this exact thing, that was useless, on YT your video was first!! For these examples, if instead of ordinary income, instead there was IRA distributions along with the LTCG, does anything change?

does NIIT apply to crypto/bitcoin gains?

great video! super useful illustrations

What about deductions for improvements made to investment property prior to selling it, is there a list of approved improvements i can look into?

thanksss

Here is a brain teaser for you. True or False. Is there an income level where generating additional income as long term capital gains will cause more tax than the same amount of additional income from short term capital gains or ordinary income.

Related video - Strategy to REDUCE TAXES on a BIG withdrawal from Inherited IRA: ruclips.net/video/hsI4_NAXxcM/видео.htmlsi=ojezdUX65eEvu4lL

Thank you! I get it now!!

Useless talking

Many thanks for this video.

Good video. I agree if someone can pay the tax with money sitting idle this can make sense. A few comments 1. No one knows what will happen with tax rates. Given Biden has stated many times he won’t raise taxes on anyone making under $400k and Trump is even less likely to raise taxes, my bet is something will be done. Perhaps a compromise between today and pre 2017 but who knows 2. My cash is earning an average of 5.6% today risk free between high yield savings, short term CDs and t bills and agency bonds so it’s not sitting idle losing to inflation which is around 3%. 3. Time value of money needs to be considered. Remember when you convert you pay all the tax up front with todays dollars vs RMDs which are paid very slowly over many years with future inflation adjusted dollars. 4. Market timing can’t be an issue. If you converted before the 25% stock and bond decline in 2022, you would need a 33% gain just to get back to what you already paid tax on. 5. You can use your cash to fund living expenses now to delay SS, travel and enjoy life while still healthy vs having more money that you need in your 80s when you don’t have the ability to utilize it due to health or other issues. 6. Even if tax rates go up, your RMDs will not be all taxed at your highest rate. Some will eat up the standard deduction, then the 10%, 12% (or 15%) before they get to brackets that will provide savings. 7. If you invest the cash in muni bonds or dividend stocks instead of paying tax today, by the time you are 75 you will have many years worth of money built up to pay the tax on RMDs.

Nice job! Thank you!

Do I have to pay taxes

Thanks for the video a real gem

If I do NUA with a cost basis of 30k and also sell 50k of stock to help pay the taxes of the 200k of my 401k I am converting to a roth plus I have 20k in dividends. Is my MAGI going to be 300k and thus I will also owe NIIT on 100k? Or does the NUA cost basis not count?

The opposite happens when more ordinary income can add more tax to cap gains. For example if you are at the top of the 12% bracket and get another $100, you will pay 22% on that income and another 15% on $100 of capital gain that would have otherwise not been taxed, effectively going from 12% to 37%.

One item that caught me off guard this year. I always take the $3k cap loss against ordinary income but this year I have some unexpected cap gains and now the $3k loss will go against my cap gains in the zero percent bracket, effectively making $3k more of my overall income taxable than had it offset ordinary income.

I agree about the long term cap gain tax table and needing to add in that extra level at $250k for married joint filers.

You do realise this money system is what has completely decimated society since 1971.

The best explanation I found on YT. Thanks! I just subscribed.

I am new to this, i did learn something new from your video tutorial, thanks. I wonder if you can explain little more on third party price, what does it mean? When does bid price vs ask price mean when I make a purchase? Also, when I tried make a purchase on 20yr Treasury Bond, there are a list of different prices show up after I clicked on buy, why is that? Do you have a tutorial of how to buy 20yr, 30yr treasury bonds on Fidelity platform? Thanks.