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For municipal bonds purchased at a discount, the de minimis tax rule determines whether the bond’s appreciation at maturity will be taxed at ordinary income or capital gains rates. The de ...
Had their net investment income been $300,000, then Kelly and John would pay 3.8 percent on the $250,000 by which their MAGI exceeds the income thresholds. Here, Kelly and John would pay $9,500 in ...
Investments include traditional investments, like stocks, bonds, rental properties and bank accounts. ... you could pay income tax on up to 50% of your Social Security benefits (assuming a ...
Each year, high-income taxpayers must calculate and then pay the greater of an alternative minimum tax (AMT) or regular tax. [9] The alternative minimum taxable income (AMTI) is calculated by taking the taxpayer's regular income and adding on disallowed credits and deductions such as the bargain element from incentive stock options, state and local tax deduction, foreign tax credits, and ...
Verify your bond’s value – Use the TreasuryDirect Savings Bond Calculator to check its current worth. Redeem at a bank or credit union – Most financial institutions can cash in savings bonds.
In effect, selling a bond at a discount converts stated principal into a return on investment, or interest. The accurate determination of principal and interest is necessary in United States tax law to determine the basis of property and to determine whether an amount paid is deductible and includible as interest, or simply a nontaxable debt ...