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SD Realtor.
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August 10, 2010 at 8:06 AM #589571August 10, 2010 at 8:44 AM #588546
SD Realtor
ParticipantSo no it is not entirely false. It is entirely true as the original poster clearly said after a 250k/500k gain.
August 10, 2010 at 8:44 AM #588640SD Realtor
ParticipantSo no it is not entirely false. It is entirely true as the original poster clearly said after a 250k/500k gain.
August 10, 2010 at 8:44 AM #589179SD Realtor
ParticipantSo no it is not entirely false. It is entirely true as the original poster clearly said after a 250k/500k gain.
August 10, 2010 at 8:44 AM #589286SD Realtor
ParticipantSo no it is not entirely false. It is entirely true as the original poster clearly said after a 250k/500k gain.
August 10, 2010 at 8:44 AM #589596SD Realtor
ParticipantSo no it is not entirely false. It is entirely true as the original poster clearly said after a 250k/500k gain.
August 10, 2010 at 8:48 AM #588551Hobie
Participantfrom page 946:
‘‘SEC. 1411. IMPOSITION OF TAX.
‘‘(a) IN GENERAL.—Except as provided in subsection (e)—
‘‘(1) APPLICATION TO INDIVIDUALS.—In the case of an individual,
there is hereby imposed (in addition to any other tax
imposed by this subtitle) for each taxable year a tax equal to
3.8 percent of the lesser of—
‘‘(A) net investment income for such taxable year, or
‘‘(B) the excess (if any) of—
‘‘(i) the modified adjusted gross income for such
taxable year, over
‘‘(ii) the threshold amount.Question for the tax pros – Suppose I sell a property and have a capital gain which is listed in my adjusted gross income. Under section B that capital gain is added to my normal income when determining the threshold amount. Then tax is applied to the amount above $250k. Is this correct?
If so, this is a sneaky way to base load the tax floor.
August 10, 2010 at 8:48 AM #588645Hobie
Participantfrom page 946:
‘‘SEC. 1411. IMPOSITION OF TAX.
‘‘(a) IN GENERAL.—Except as provided in subsection (e)—
‘‘(1) APPLICATION TO INDIVIDUALS.—In the case of an individual,
there is hereby imposed (in addition to any other tax
imposed by this subtitle) for each taxable year a tax equal to
3.8 percent of the lesser of—
‘‘(A) net investment income for such taxable year, or
‘‘(B) the excess (if any) of—
‘‘(i) the modified adjusted gross income for such
taxable year, over
‘‘(ii) the threshold amount.Question for the tax pros – Suppose I sell a property and have a capital gain which is listed in my adjusted gross income. Under section B that capital gain is added to my normal income when determining the threshold amount. Then tax is applied to the amount above $250k. Is this correct?
If so, this is a sneaky way to base load the tax floor.
August 10, 2010 at 8:48 AM #589184Hobie
Participantfrom page 946:
‘‘SEC. 1411. IMPOSITION OF TAX.
‘‘(a) IN GENERAL.—Except as provided in subsection (e)—
‘‘(1) APPLICATION TO INDIVIDUALS.—In the case of an individual,
there is hereby imposed (in addition to any other tax
imposed by this subtitle) for each taxable year a tax equal to
3.8 percent of the lesser of—
‘‘(A) net investment income for such taxable year, or
‘‘(B) the excess (if any) of—
‘‘(i) the modified adjusted gross income for such
taxable year, over
‘‘(ii) the threshold amount.Question for the tax pros – Suppose I sell a property and have a capital gain which is listed in my adjusted gross income. Under section B that capital gain is added to my normal income when determining the threshold amount. Then tax is applied to the amount above $250k. Is this correct?
If so, this is a sneaky way to base load the tax floor.
August 10, 2010 at 8:48 AM #589291Hobie
Participantfrom page 946:
‘‘SEC. 1411. IMPOSITION OF TAX.
‘‘(a) IN GENERAL.—Except as provided in subsection (e)—
‘‘(1) APPLICATION TO INDIVIDUALS.—In the case of an individual,
there is hereby imposed (in addition to any other tax
imposed by this subtitle) for each taxable year a tax equal to
3.8 percent of the lesser of—
‘‘(A) net investment income for such taxable year, or
‘‘(B) the excess (if any) of—
‘‘(i) the modified adjusted gross income for such
taxable year, over
‘‘(ii) the threshold amount.Question for the tax pros – Suppose I sell a property and have a capital gain which is listed in my adjusted gross income. Under section B that capital gain is added to my normal income when determining the threshold amount. Then tax is applied to the amount above $250k. Is this correct?
If so, this is a sneaky way to base load the tax floor.
August 10, 2010 at 8:48 AM #589601Hobie
Participantfrom page 946:
‘‘SEC. 1411. IMPOSITION OF TAX.
‘‘(a) IN GENERAL.—Except as provided in subsection (e)—
‘‘(1) APPLICATION TO INDIVIDUALS.—In the case of an individual,
there is hereby imposed (in addition to any other tax
imposed by this subtitle) for each taxable year a tax equal to
3.8 percent of the lesser of—
‘‘(A) net investment income for such taxable year, or
‘‘(B) the excess (if any) of—
‘‘(i) the modified adjusted gross income for such
taxable year, over
‘‘(ii) the threshold amount.Question for the tax pros – Suppose I sell a property and have a capital gain which is listed in my adjusted gross income. Under section B that capital gain is added to my normal income when determining the threshold amount. Then tax is applied to the amount above $250k. Is this correct?
If so, this is a sneaky way to base load the tax floor.
August 10, 2010 at 9:27 AM #588581briansd1
GuestI like it the old, pre 1997 way, when if you didn’t buy a replacement property, you’d have to pay capital gain on the full amount.
Back then, only knowledgeable people flipped houses and capital was better allocated to more productive industries. Housing, after it’s constructed is not productive.
August 10, 2010 at 9:27 AM #588676briansd1
GuestI like it the old, pre 1997 way, when if you didn’t buy a replacement property, you’d have to pay capital gain on the full amount.
Back then, only knowledgeable people flipped houses and capital was better allocated to more productive industries. Housing, after it’s constructed is not productive.
August 10, 2010 at 9:27 AM #589214briansd1
GuestI like it the old, pre 1997 way, when if you didn’t buy a replacement property, you’d have to pay capital gain on the full amount.
Back then, only knowledgeable people flipped houses and capital was better allocated to more productive industries. Housing, after it’s constructed is not productive.
August 10, 2010 at 9:27 AM #589321briansd1
GuestI like it the old, pre 1997 way, when if you didn’t buy a replacement property, you’d have to pay capital gain on the full amount.
Back then, only knowledgeable people flipped houses and capital was better allocated to more productive industries. Housing, after it’s constructed is not productive.
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