Turbo tax was quite clear on this. I well know because I had to do some fancy footwork to stay in the 15% bracket the last 2 years.Play with it in TurboTax (for 2012). Enter $10,000 of dividends and other income to get taxable income of $70,699 (married-joint). Then add $2 more income to bump the T.I to $70,701. The tax jumps a whole lot, because the entire $10K of dividends is now taxed. I'm with Peter on this, you had something else going on. I just faked up a return in my copy of TT Deluxe 2012. $10,000 in Dividend income, the rest in LTCG income. At $70,700 Taxable Income, tax owed was $0. At $70,704 it was $1. I couldn't get it to show tax at the intermediate numbers because of the built-in rounding that the IRS allows.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. M