hmm in LOv7 , 20c macros work, while loaded initially as .xlsm file , but after being saved as "Excel 2007-365-macro-enabled" and then reopened , it is then that they fail
but if saved in .ods format seem to now work.
hope haven't disturbed you
hmm in LOv7 , 20c macros work, while loaded initially as .xlsm file , but after being saved as "Excel 2007-365-macro-enabled" and then reopened , it is then that they fail
Code: Select all
Run-time error '1004':
Method 'GetOpenFilename' of object'_Application' failed
The Clear and Copy macros are working in Excel for 20.2c. I don't have access to Mac so can't determine nor have a clue why that would happen. You may need to use the view Side by Side feature to manually copy the settings.Lacrocious wrote: ↑Sun Sep 06, 2020 9:21 am Hi Bigfoot48,
I am on macOS Catalina using the latest RPM - 20.2c and Excel for Mac v16.4 - latest Office 365 version for Mac. I cleared 20.2c and went to copy from 20.2b. This is the first time I have tried the Copy option. I get the "Please Confirm" prompt and answer "Yes" to do the copy. After that I get a VBA error with the standard End/Debug options:Thoughts?Code: Select all
Run-time error '1004': Method 'GetOpenFilename' of object'_Application' failed
- L
Glad you like the model. My opinion is that nominal is a better way to look at our numbers since that's what we will be experiencing and inflation may be more difficult to forecast than nominal rates of returns, but I'm sure other users share your opinion as using real forecasts has come up occasionally. Others might want to chime in.Escapevelocity wrote: ↑Mon Sep 07, 2020 4:58 pm I set up my inputs into your model using zero inflation and real rates of return on stocks, bonds and cash. It seems to work fine but what is your opinion?
I appreciate your point, but I'm sticking with real return approach. I don't think that forecasting nominal rates of return is any more or less challenging than forecasting real rates. Also, I believe SSA benefit estimates on the government website are expressed in today's dollars. An idea for enhancement would be a toggle to look at it either way.BigFoot48 wrote: ↑Mon Sep 07, 2020 5:17 pmGlad you like the model. My opinion is that nominal is a better way to look at our numbers since that's what we will be experiencing and inflation may be more difficult to forecast than nominal rates of returns, but I'm sure other users share your opinion as using real forecasts has come up occasionally. Others might want to chime in.Escapevelocity wrote: ↑Mon Sep 07, 2020 4:58 pm I set up my inputs into your model using zero inflation and real rates of return on stocks, bonds and cash. It seems to work fine but what is your opinion?
I don't have answers for some of your questions. I recommend all new users study each setting on the Setup page and replace the example data settings with their own. This will help to minimize errors.
I ORP is indeed simpler. You should try it. RPM has a learning curve but once you master it, you will appreciate the level of detail. i ORP is designed to maximize retirement spending and minimize taxes, which is not what everyone wants to do. You can finagle the numbers (tell it to leave an estate) to help reduce this propensity. RPM is not designed this way.stvyreb wrote: ↑Fri Sep 18, 2020 7:34 pm in my opinion, sure would be great if someone might create a tutorial for youtube(seems it would be fairly trivial, some folks need visuals), that understands the various small points, some of it, I eventually can sort out, but much it seems opaque.
eg I was just looking at again the Roth Conversion section, and just above 'taxable account balance' there is , in green font, a total, the red dot pop-up just says "ending balance", I'm sure makes perfect sense to those that know, thats just one point.
I guess, it's ok to just say 'well go try the ORP' instead, because? its more of a forecast? or 'its simplier'? anyway maybe I should just go back to lurking
RPM is designed to require the user to furnish their own estimates of annual income, expenses and account withdrawals and the model just does the math on the results. There is an automated balance feature than can be turned on to keep the Taxable account positive.
In Section 10, Optional Roth Conversions, you can use the blue-shaded withdrawal column to keep the taxable account from going negative. Just withdraw money from the Roth Conversion balance that you have built up to keep the taxable account balance greater than zero in each model year. I think this is how many users "zero in" on adding income (to meet expenses) without adding taxable income (by doing a larger Traditional IRA withdrawal, for example) that might push them into the next higher tax bracket in a given model year.renega wrote: ↑Thu Sep 24, 2020 9:37 am <SNIP>
I think the difference is that in your model, if taxable account balances go negative, that means an error. In my model, I allow dipping into the Roth account to cover annual expenses and only flag an error if both taxable and roth accounts cannot cover annual expenses.
<SNIP>
Any thoughts on what I might be missing?
I appreciate the difficulty new users may have with the model. Seven years ago it was so much easier! I do think the Readme page and cell comment instructions can be improved to help the new user. Alert/error messages can also be changed to tell users what to do, such as: "Taxable account is negative. Decrease expenses and/or increase income." that will take some of the mystery out of the messages. I will work on these.Tattarrattat wrote: ↑Sun Oct 11, 2020 7:33 pm I have used i-orp without difficulty, but just can't seem to get to launch phase with this one. Any suggestions on how a beginner can more easily get rolling with this tool? Thanks.
This looks like a promising start-up guide. I will give it a go tomorrow and report back. Thank you for taking the time and effort to put together such a lengthy post.MrDrinkingWater wrote: ↑Mon Oct 12, 2020 4:52 pm I would suggest that first-time RPM users should not sweat having negative numbers and red text error messages for the first few hours of using and entering data into RPM.
For the first-time in using RPM, don't clear all the entries on the Setup Page. Don't try to make a perfect model that exactly fits your situation. You just won't be able to do that in fifteen minutes or even an hour. Just be content on learning how the inputs that you enter on the Setup Page are to be entered.
Read through the entire Readme spreadsheet before starting to enter data on the Setup Page. You don't need to read the Readme page with 100% comprehension. Just read through it once so that you get some comprehension and at least a partial overview of what RPM does.
Now proceed to start editing the Setup spreadsheet page. Remember you are just learning how to use RPM, not making a perfect fit model to your own situation on the first try. Fill in the blue cells with data that you know about yourself, and if you are married, your spouse. Ignore all the error messages and "warning negative balance" stuff for the next hour or so of entering data.
For the Portfolio Balance section: Add up all your accounts to fit into the categories listed as inputs to RPM. For example, your 401k accounts and traditional IRA accounts all go together in IRA1, and your spouse's 401k accounts and traditional IRA accounts all go together in IRA2. Do the same sort of thing to combine your actual existing Roth IRAs together. All of your Roth IRAs are in Roth IRA1 and all of your spouse's Roth IRAs are in Roth IRA2. Combine your taxable accounts all together into the single taxable account category item. Now take those sums you've made from another spreadsheet or a piece of paper and enter them into the data fields. Until you complete editing the other sections of the Setup Page, you will most likely have red text error messages.
Continue working your way down through the Setup Page. I prefer using the Class Asset Method in Section 3, the "Rates and Returns" section. For this first learning session, just use the rates that are there (the default rates.) You can edit them later. Do edit the percentages of stocks, bonds, and tax-exempt to match the percentages that are present in your accounts. Notice that "Money Market and other" automatically completes the row of cells to add up to 100%, so you don't have to enter in percentages for what you have in cash in savings and checking accounts, or any other taxable accounts.
Now enter in your expected pension income data and expected Social Security income data. Enter in any anticipated earned income, like a side job you have or expect to have.
In Section 5, "Expenses", put in your first guess about a reasonable level of expenses into that cell. This will be your first chance to really drive the calculated model results to not have red text errors and negative balance warning messages. You can also see on the right end of that row of cells what your ending portfolio balance is calculated to be each time you edit your guess about what your anticipated expenses will be. Choose a yearly level of expenses that will keep your portfolio balance positive, and you'll like get rid of nearly all of the red text error messages. Maybe putting in what is a conservative "expenses" number is a good practice, just to clear away the error messages for a while.
In Section 6, IRA Contributions and IRA Withdrawals, this is where you will have some work, editing, and tweaking to do. I recommend starting out by setting your annual withdrawals to zero in each section, but keep the default yearly percentage change adjustments, and go ahead and edit the start age and end age cells to your desired age ranges. Now, just for this training session, so that you'll get the hang of this feature of RPM, set the annual withdrawal to $10,000 for each of your traditional IRAs and $1000 for each of your Roth IRAs. This will help you see how the Traditional IRA withdrawals and Roth IRA withdrawals flow into your taxable account. It is your taxable account from which your annual expenses are subtracted from for each year of the model you are forecasting.
In Section 7, enter in any one-time expense, like buying a house or yacht, if you have some one-time expenses like that. You'll be able to see how that depletes your Taxable Balance quite clearly when you later look at the Summary, Results, and Details spreadsheets.
In Section 8, Taxes, just accept the default settings for the first hour or two of figuring out how the IRA Withdrawals, Expenses, and Income sections interact to add to or deplete the Taxable Balance. After you have some more insight and confidence in how your inputs affect your RPM model, you can then start fine-tuning the Taxes section for your particular situation.
I wouldn't fool with Section 9 during the first few hours of using RPM. Some folks may never enter data and use Section 9 for any purpose.
I would suggest that editing and putting data into Section 10, Optional Roth Conversions, should be done after a few hours of learning how the data entered into all the other sections affect RPM. Before doing the Optional Roth Conversions, I went back to reset my annual IRA1 withdrawals to zero, and then I started using Method 2 to enter in a Roth conversion amount each of the early years of my forecasted model. These "Method 2" Roth conversion amounts are added to the Roth Conversion balance that is not entered data, but calculated data, that shows up in Section 2, Portfolio Balances, and "Roth Start of Year Balance" that is two columns to the right of the "Roth Conversion Amount" column. When you want to fund your Taxable Account with "Roth Conversion balance" dollars, enter in the amount you want to transfer in that column just to the right (the column labeled "Withdrawals") of the conversion amount that could be entered for that model year.
The Optional Roth Conversions part of RPM is really useful for figuring out how much Roth Conversion to do each year of your forecasted model to aim for the top of a particular tax bracket. A lot of folks may not need or want to use this section of the Setup Page, but it is the key helpful feature for many RPM users.
Well, I hope this helps some of you get started with using RPM. I recommend spending some time studying the graphs that populate the Setup Page, and the other three spreadsheets that I mentioned earlier: Summary, Results, and Details. Now that you've made your own personalized "test case" of RPM that is hopefully in a condition of having a modest amount of anticipated yearly expenses, a positive portfolio balance after two-to-three decades of forecasted time modeled, and no red error messages, you can REALLY start fine-tuning the entries and numbers in Setup Page Sections 3, 4, 6, 8, and 10 to exactly your own situation. Good luck!
These have been added in the current 20.2d version. Many thanks to LadyGeek for finding them. Her other suggestions and improvements are under review and will likely be in the next version within a few weeks.LadyGeek wrote: ↑Tue Oct 13, 2020 10:37 am I have incorporated into Version 20.2d:
- A macro bug fix. When copying your data from an older spreadsheet, the "load entries" macro at the top of the Settings sheet misses three cells.
-- Cell E129: Social Security COLA
-- Cell E140: Social Security alternative COLA
-- Cell E264: Override single rate start year
"Is there an RPM-for-dummies type guide in one of these posts? Or maybe a youtube video where somebody clicks from box to box explaining what goes where?"Tattarrattat wrote: ↑Sun Oct 11, 2020 7:33 pm Hi. This spreadsheet seems remarkable and clearly a lot of dedicated, skillful work has gone into it. The fact that it is being made available gratis is admirable - compliments to the author. I am having a rough time getting started, even with entering the initial data. I find the setup page confusing and I'm not sure what boxes get what data, what boxes should be cleared and so on, or if I should clear them all. I start entering things and quickly get red error messages. I read the readme page and clicked all the small triangles. Feel a little stuck with it. Is there an RPM-for-dummies type guide in one of these posts? Or maybe a youtube video where somebody clicks from box to box explaining what goes where? I have used i-orp without difficulty, but just can't seem to get to launch phase with this one. Any suggestions on how a beginner can more easily get rolling with this tool? Thanks.
Thank you for this, MrDrinkingWater! Just sat with it and followed your startup guide and actually got some results that made some sense - really helpful. There are still boxes and buttons and macros that don't make sense to me but I did get the big picture and I got to the point where could do theoretical Roth conversions, which was mostly what I was looking for, although the use of the model as a more refined kind of Firecalc was helpful as well, for projecting and planning in the larger sense. An excellent feature was seeing the Roth conversion table right next to the no-conversion table. One thing though, is it made clear to me that by doing Roth conversions, I'm paying lots of taxes voluntarily in my 60s and early 70s, in order to lower my taxes in my 80s and 90s. It occurred to me however that I may not care that much what my taxes are in my 80s and 90s when I will probably be a lot less active and have a lot less need for discretionary income. Which brings up the philosophical point of whether these conversions are worth doing at all, legacy and inheritance questions aside. But that is probably a topic for its own thread.MrDrinkingWater wrote: ↑Mon Oct 12, 2020 4:52 pm I would suggest that first-time RPM users should not sweat having negative numbers and red text error messages for the first few hours of using and entering data into RPM.
For the first-time in using RPM, don't clear all the entries on the Setup Page. Don't try to make a perfect model that exactly fits your situation. You just won't be able to do that in fifteen minutes or even an hour. Just be content on learning how the inputs that you enter on the Setup Page are to be entered.
Read through the entire Readme spreadsheet before starting to enter data on the Setup Page. You don't need to read the Readme page with 100% comprehension. Just read through it once so that you get some comprehension and at least a partial overview of what RPM does.
Now proceed to start editing the Setup spreadsheet page. Remember you are just learning how to use RPM, not making a perfect fit model to your own situation on the first try. Fill in the blue cells with data that you know about yourself, and if you are married, your spouse. Ignore all the error messages and "warning negative balance" stuff for the next hour or so of entering data.
For the Portfolio Balance section: Add up all your accounts to fit into the categories listed as inputs to RPM. For example, your 401k accounts and traditional IRA accounts all go together in IRA1, and your spouse's 401k accounts and traditional IRA accounts all go together in IRA2. Do the same sort of thing to combine your actual existing Roth IRAs together. All of your Roth IRAs are in Roth IRA1 and all of your spouse's Roth IRAs are in Roth IRA2. Combine your taxable accounts all together into the single taxable account category item. Now take those sums you've made from another spreadsheet or a piece of paper and enter them into the data fields. Until you complete editing the other sections of the Setup Page, you will most likely have red text error messages.
Continue working your way down through the Setup Page. I prefer using the Class Asset Method in Section 3, the "Rates and Returns" section. For this first learning session, just use the rates that are there (the default rates.) You can edit them later. Do edit the percentages of stocks, bonds, and tax-exempt to match the percentages that are present in your accounts. Notice that "Money Market and other" automatically completes the row of cells to add up to 100%, so you don't have to enter in percentages for what you have in cash in savings and checking accounts, or any other taxable accounts.
Now enter in your expected pension income data and expected Social Security income data. Enter in any anticipated earned income, like a side job you have or expect to have.
In Section 5, "Expenses", put in your first guess about a reasonable level of expenses into that cell. This will be your first chance to really drive the calculated model results to not have red text errors and negative balance warning messages. You can also see on the right end of that row of cells what your ending portfolio balance is calculated to be each time you edit your guess about what your anticipated expenses will be. Choose a yearly level of expenses that will keep your portfolio balance positive, and you'll likely get rid of nearly all of the red text error messages. Maybe putting in what is a conservative "expenses" number is a good practice, just to clear away the error messages for a while.
In Section 6, IRA Contributions and IRA Withdrawals, this is where you will have some work, editing, and tweaking to do. I recommend starting out by setting your annual withdrawals to zero in each section, but keep the default yearly percentage change adjustments, and go ahead and edit the start age and end age cells to your desired age ranges. Now, just for this training session, so that you'll get the hang of this feature of RPM, set the annual withdrawal to $10,000 for each of your traditional IRAs and $1000 for each of your Roth IRAs. This will help you see how the Traditional IRA withdrawals and Roth IRA withdrawals flow into your taxable account. It is your taxable account from which your annual expenses are subtracted from for each year of the model you are forecasting.
In Section 7, enter in any one-time expense, like buying a house or yacht, if you have some one-time expenses like that. You'll be able to see how that depletes your Taxable Balance quite clearly when you later look at the Summary, Results, and Details spreadsheets.
In Section 8, Taxes, just accept the default settings for the first hour or two of figuring out how the IRA Withdrawals, Expenses, and Income sections interact to add to or deplete the Taxable Balance. After you have some more insight and confidence in how your inputs affect your RPM model, you can then start fine-tuning the Taxes section for your particular situation.
I wouldn't fool with Section 9 during the first few hours of using RPM. Some folks may never enter data and use Section 9 for any purpose.
I would suggest that editing and putting data into Section 10, Optional Roth Conversions, should be done after a few hours of learning how the data entered into all the other sections affect RPM. Before doing the Optional Roth Conversions, I went back to reset my annual IRA1 withdrawals to zero, and then I started using Method 2 to enter in a Roth conversion amount each of the early years of my forecasted model. These "Method 2" Roth conversion amounts are added to the Roth Conversion balance that is not entered data, but calculated data, that shows up in Section 2, Portfolio Balances, and "Roth Start of Year Balance" that is two columns to the right of the "Roth Conversion Amount" column. When you want to fund your Taxable Account with "Roth Conversion balance" dollars, enter in the amount you want to transfer in that column just to the right (the column labeled "Withdrawals") of the conversion amount that could be entered for that model year.
The Optional Roth Conversions part of RPM is really useful for figuring out how much Roth Conversion to do each year of your forecasted model to aim for the top of a particular tax bracket. A lot of folks may not need or want to use this section of the Setup Page, but it is the key helpful feature for many RPM users.
Well, I hope this helps some of you get started with using RPM. I recommend spending some time studying the graphs that populate the Setup Page, and the other three spreadsheets that I mentioned earlier: Summary, Results, and Details. Now that you've made your own personalized "test case" of RPM that is hopefully in a condition of having a modest amount of anticipated yearly expenses, a positive portfolio balance after two-to-three decades of forecasted time modeled, and no red error messages, you can REALLY start fine-tuning the entries and numbers in Setup Page Sections 3, 4, 6, 8, and 10 to exactly your own situation. Good luck!
I assume you're looking at the Results Summary near the top of the Setup sheet (Rows 9 to 21).Tracker968 wrote: ↑Tue Oct 13, 2020 9:16 pm How do you recommend using the a copy and copy-paste fields? It's not clear to me what is going on.
Using the copy buttons in the summary automatically copies all the current entries to the corresponding column at the bottom of the page. The additional copy buttons at the bottom can be used to store settings if the summary section is not being used. I believe this is what you are referring to.LadyGeek wrote: ↑Wed Oct 14, 2020 6:42 pm Looking at this further, I think the summary at the top of the page should not be separated from the full information in that manner. Copying the current results from Column E to (Column G, H, or I) should copy everything (results and settings from the top and bottom sections) to the appropriate column in one fell-swoop. I'll see what I can do. It should be a straight-forward macro update.
To:Three storage columns are provided for saving summary results of your model. Enter a 3-line description first, then use macro buttons or menu commands to copy current results to one of the three storage lines. (i.e. copy-paste values)
Note: Using the macros also copies all Setup page entries to the respective storage column (1 to 1, etc) in the Case Results and Input Data Storage section at the bottom of this page.
Manual method:
1. Select the nine rows of "current results" data.
2. Copy using menu icon or Ctrl-C.
3. Select one of the columns by selecting the first row below the comment area.
4. Paste values using menu icon or right-click and Paste Special - Values.
(1 of 3)Four storage columns are provided for saving summary results of your model. Enter a 3-line description first, then use the "copy-paste" macro buttons to copy current results to one of the four storage columns.
Note: These macros also copy (overwrite) all Setup page entries to the respective storage column (1 to 1, etc) in the Results and Input Data Storage section at the bottom of this page. Use this section to reproduce the entries which created the case for the relevant column.
Manual method:
1. Select the nine rows of "current results" data.
2. Copy using menu icon or Ctrl-C.
3. Select one of the columns by selecting the first row below the comment area.
4. Paste values using menu icon or right-click and Paste Special - Values.
5. Scroll down to the Results and Input Data Storage Section.
6. Select rows 499 to 833 of "current results" data.
7. Copy using menu icon or Ctrl-C.
8. Select one of the columns by selecting the first row below the comment area.
9. Paste values using menu icon or right-click and Paste Special - Values.
To:Use these copy-paste buttons to copy the current results summary numbers to the storage column below the button. This will also copy all the settings to the storage section at the bottom of this page.
Or just copy in results from current or prior results.
Macros:
copy_sum1
copy_sum2
copy_sum3
copy_sum4
Use these copy-paste buttons to copy the current results summary numbers to the storage column below the button. This will also copy all the settings to the storage section at the bottom of this page.
Or just copy in results from current or prior results. Be sure to also copy the settings in the storage section at the bottom of this page.
Macros:
copy_sum1
copy_sum2
copy_sum3
copy_sum4
To:Click on one of the four macro buttons to copy and paste current results into the storage area below it, or click the "copy results" macro button to copy the results, then paste the values manually into any storage column.
Enter a description in the four rows below each macro button.
Note: Using the four copy macros on the Setup page at the Summary Results section also copies and stores the Current Results data to the first three columns (1,2,3,4).
Manual method:
1. Select current results between yellow labels
2. Copy using menu or Ctrl-C
3. Select one of the top cells in this area
4. Paste data using menu or right-click and Paste Special - Values
Click on one of the four macro buttons to copy and paste current results into the storage area below it, or click the "copy results" macro button to copy the results, then paste the values manually into any storage column.
Enter a description in the four rows below each macro button.
Caution: Using the four copy macros at the top of the Setup page (Summary Results section) will overwrite the storage settings (1,2,3,4).
Manual method:
1. Select current results between yellow labels
2. Copy using menu or Ctrl-C
3. Select one of the top cells in this area
4. Paste data using menu or right-click and Paste Special - Values
The above three comment edits provide needed updates and a better explanation and have been made in the next version. Thanks much.
Don't know anything about dummies but I have been using RPM for a few months, and am still learning. I used the following steps when I began:
stvyreb wrote: ↑Fri Oct 23, 2020 6:51 pm 2 questions,
is the "Portfolio Cash Flow Diagram" upper right just an example, I am using LibreOffice, and it doesn't seem to change at all ? ; though everything else seems functional
It's functional and works in Excel, but apparently not in Libre.
2)
for Inherited IRAs how does one indicate allocations , does it use the IRA1 Class Method bond/stock splits? Even though, IIRA is not included in IRA1 in section 2, portfolio balances?
As documented in the cell comments, inherited IRA1 and IRA2 use the factors entered for IRA1 and IRA2.
3)
for E273 it says : " $D$273 Enter the taxable account growth expected in the current year based on historic results.
The amount calculated by model for the first year Taxable account growth is shown ( )and can be used when the Alternative setting is set to 0 or blank. Not recommended."
My Cell E273 is empty , but E276 has some number in it, that apparently is "growth" as if I Zero it out then the "view federal income for the year" no longer has the correct AGI , sigh
I recommend entering taxable account estimates in both 273 and 276. No sure why zeroing them out would impact the estimated AGI. Will look at that.
for Taxes, does the Model, use the Right hand side Federal Tax Calculator to populate Cells like E276 (net growth distributed...)
The calculator is just a stand-alone tax calculator as documented in the cell comments.
All blue cells are user supplied. Any data there may be left over from the Example data that was not cleared.
No, it's calculating an amount to deduct from taxable account income representing the growth in the account that are not distributed as taxable income. The cell comment:stvyreb wrote: ↑Fri Oct 23, 2020 10:07 pm so doesn't the model determine
Taxable Account Earnings Adjustment to determine taxable earnings
Annual Growth: Enter expected taxable account growth in the first or a typical year.
so is this somehow overriding what growth the model is calculating based on the user's data inputted with the Balances and Return rates?
First I changed the text color to Black in cells Setup/F278 and G278 so you can see the percentages, then I set up a simple case where a MFJ couple has $100,000 income and also $100,000 expenses, $4,000,000 taxable in 100% stock earning 5%/year.
for "$100k income" are you putting that in Pension section?DSBH wrote: ↑Mon Oct 26, 2020 11:23 amFirst I changed the text color to Black in cells Setup/F278 and G278 so you can see the percentages, then I set up a simple case where a MFJ couple has $100,000 income and also $100,000 expenses, $4,000,000 taxable in 100% stock earning 5%/year.
Case #1 - enter 0 in cells Setup/E273/E274 and E276/E277, you should see 100% in F278 for the Details case and G278 for the Base case - so 100% of the gain in Taxable came from share price increase.
Now if you inspect the Adjusted Gross Income Calculation section of the "Details" tab (beginning in row 168) first year you should see:
Taxable earning = 200,000 (= 4M * 5%)
Less Non-taxable earning in Taxable = -200,000 (=-100% * 200,000) since 100% of the gain came from share price increase,
Plus other income = 100,000
So Federal Income = 200,000 - 200,000 + 100,000 = 100,000
Minus standard deduction = -24,800
Taxable income = 100,000 - 24,800 = 75,200
Minus 0% adjustment for LTCG/QD = 0
So Taxable Income Adjusted = 75,200
and Federal Income tax = 8,700