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	Forums ›› Main ›› Economics ›› High-income traders are hit with ObamaCare’s 3.8% Medicare tax on investment income

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JackR

Registered: Mar 2004
Posts: 1084

09-06-12 06:52 AM

Quote from blackjack007:Back to the topic: how does the new 3.8% tax apply to profits on 1256 contracts?

Unearned income includes investment or portfolio income (interest, dividends, most capital gains, and annuities), royalties, rents, and passive activity income, as well as gains from the sale of property not used in an active business.

1256 gains are capital gains. So if you have an adjusted gross income (AGI) exceeding $200,000 (single), $250,000 (married filing jointly), or $125,000 (married filing separately) you pay at the 3.8% rate.

Jack

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Handle123

Registered: Aug 2007
Posts: 1051

09-07-12 12:30 AM

I have Trading friends who said screw it and became citizens of other countries, they paid all taxes they needed to USA and left, so if they come back for visits, they are now foreigners.

http://wiki.timetotrade.eu/index.php/Tax_Havens

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Bob111

Registered: May 2002
Posts: 6473

09-07-12 01:54 AM

Quote from Handle123:

I have Trading friends who said screw it and became citizens of other countries, they paid all taxes they needed to USA and left, so if they come back for visits, they are now foreigners.

http://wiki.timetotrade.eu/index.php/Tax_Havens

cmn man..link is for UK people..US is a bit different,you know..there is no easy way out

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fullblotter

Registered: Feb 2006
Posts: 181

09-10-12 01:57 AM

Quote from actionzip54:

You gotta bring race into this bro? What does it matter if the military is black?

is this sarcasm?

"black" military refers to secret military funding, not african-americans.

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