1 Flashcards
Marginal tax rate
% of tax applied to income for each tax bracket
amt of tax on an additional dollar of income
married filing sep
which tax brackets?
indv tax bracket until
middle tax bracket
head of household
higher income allowed before being pushed to next tax bracket
ordinary income
salary
interest & DIV
Qualified DIV
taxed at what %
< 25% tax bracket
regular tax bracket
top income tax bracket
0%
15%
20%
Ordinary DIV
which products?
taxed at what rate?
REITS
Royalty Trusts
ordinary income
long-term capital gain
how long holding to get qualified tax DIV rate?
1 Year +
61 days
short-term cap gain
holding time?
tax rate?
< 1 year
ordianry income
cost basis
premium
what you paid to buy + comm
same stock purchased at different times
sell order?
FIFO
capital gains in retirement accts?
NO
holding period
how long stock held
trade date is counted as hold date for seller
how may days is holding period
bought May 6
sold May 7
366
wash sell rules
sell 20 XYZ at a loss
buy back 10 XYZ within 30 days
? how many can be claimed CL
only bought back amt disallowed to be claimed as a tax loss
Capital Loss = 10
wash sell rules
stay out of stock for ?? days
30
