Search found 6 matches

by ThisTooShallPass123
Sun Jul 11, 2021 9:55 pm
Forum: Investing - Theory, News & General
Topic: Realizing gains in taxable - question about method
Replies: 42
Views: 3047

Re: Harvesting gains in taxable - question about method

The more gains you harvest the more tax you pay. As long as they are all long term gains the tax is the same. If you are trying to get out of this fund and exchange into something else, you will want to sell the shares with the highest basis and fewest gains, that way you get more shares for the lo...
by ThisTooShallPass123
Sun Jul 11, 2021 9:50 pm
Forum: Investing - Theory, News & General
Topic: Realizing gains in taxable - question about method
Replies: 42
Views: 3047

Re: Harvesting gains in taxable - question about method

My goal is to sell a maximal amount of old mutual fund shares to transition to more efficient and less expensive index funds. I don't think I will be able to execute the transactions immediately as I am moving from a mutual fund to an ETF. I think that was key information. I would sell the shares w...
by ThisTooShallPass123
Sat Jul 10, 2021 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: Kiddie Tax - is there a difference between a capital gain and a capital gain distribution?
Replies: 3
Views: 444

Re: Kiddie Tax - is there a difference between a capital gain and a capital gain distribution?

You are correct. To use form 8814 all the income must be interest and dividends. A mutual fund may distribute capital gains as a dividend and you can include this. If the dependent sells an asset then you cannot use form 8814. Thank you for the information. I guess the easiest way to deal with this...
by ThisTooShallPass123
Sat Jul 10, 2021 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Kiddie Tax - is there a difference between a capital gain and a capital gain distribution?
Replies: 3
Views: 444

Kiddie Tax - is there a difference between a capital gain and a capital gain distribution?

I would like to file my kids taxes on my tax form. There are only two types of income for my kid, both unearned. 1) Interest in a savings account; and 2) capital gains from tax gain harvesting. For the capital gains, I have an UGMA account and sell the stock in it at the end of the year, and buy bac...
by ThisTooShallPass123
Mon May 17, 2021 9:32 am
Forum: Non-US Investing
Topic: Contributions to UK Pension (similar to 401k) – tax free in the US?
Replies: 3
Views: 798

Re: Contributions to UK Pension (similar to 401k) – tax free in the US?

So, you were fine up to the date on which you became a green card holder. At that point, it appears that you lost treaty coverage for contributions to your UK pension, so that they became part of your annual US taxable income. Excruciating, isn't it? Thank you for the explanation. I have tried to f...
by ThisTooShallPass123
Sun May 16, 2021 7:38 pm
Forum: Non-US Investing
Topic: Contributions to UK Pension (similar to 401k) – tax free in the US?
Replies: 3
Views: 798

Contributions to UK Pension (similar to 401k) – tax free in the US?

I have read through the US UK Income Tax Treaty and the Technical Explanation to the best of my ability. Tax Treaty - https://www.treasury.gov/resource-center/tax-policy/treaties/documents/uktreaty.pdf Technical Explanation - https://www.treasury.gov/resource-center/tax-policy/treaties/Documents/teu...