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IRS aims to clarify investment
income tax under healthcare law

Reuters, by Patrick Temple-West

Original Article

Posted By:Buckeye11, 12/3/2012 7:58:29 PM

Washington - The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law. The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income. The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI. The tax applies to

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Post Reply  

Reply 1 - Posted by: jntsrgn, 12/3/2012 8:11:15 PM     (No. 9046915)

Soooo my marginal and dividend rate will go to 39.5 plus 3.8 for 43.3 on marginal AND cap gains to 25 plus 3.8 for 28.8%.

Dow 6500 in 2013. I will be liquidating.


Reply 2 - Posted by: LittleHoodedMonk, 12/3/2012 8:18:56 PM     (No. 9046925)

FTA: "The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law."

What exactly does this AND the IRS have to do with a healthcare law? Also, rarely mentioned are the student loans under it, as well.


   

 

  


 
Reply 3 - Posted by: Pocket Aces, 12/3/2012 8:19:40 PM     (No. 9046926)

What? Progressive policies will stifle growth?

And so it begins


Reply 4 - Posted by: Heraclitus, 12/3/2012 8:25:53 PM     (No. 9046935)

You just have to pass the dang bill to find out all the glorious things that are in it andn why we need all those 15,000 new IRS agents.

What i find so deplorable in my fellow Americans is... i mean those who so stupidly and selfishly voted for obama... is that they thought that somehow they could really stick it to those rich ba$$$tards.

The thing is, sooner or later, as the saying goes, they run out of other people´s money. Take Russia. It wasn´t long at all before the poor, --the dirt poor-- Russian peasant ("kulak") was the "new rich". And he wasn´t about to let go of a hoe or a bag of seed or his cow. No way.

"Hang a damn kulak from every lamp post!" shouted Lenin. "That´ll teach ´em!" And so it did.


Reply 5 - Posted by: uno, 12/3/2012 9:01:40 PM     (No. 9046982)

The gift of the MAGI will be that pretty soon everyone will be reduced to buying Christmas gifts for each other with very little money!


Reply 6 - Posted by: FL_Absentee_Voter, 12/3/2012 9:11:15 PM     (No. 9046999)

Yep. Still reading that bill that was passed and still learning what´s in it. Will be interesting to learn just where the pain threshold lies for those between the bottom 47% (takers) and top 48% (Romney voters).


Reply 7 - Posted by: lazlototh, 12/3/2012 9:20:00 PM     (No. 9047009)

I have to take all my long-term capital gains this year and delay losses til next year because the losses are worth more in offset income now. This is incredibly stupid because my behavior is not unique and when people make tax-based investment decisions it skews the economy; and it is even stupider because the idea that you would impose an EXTRA tax on investment is....well, fill in the blanks....as they say, if you want less of something, tax it more. Apparently the administration wants less investment.


   

 

  


 
Reply 8 - Posted by: NYbob, 12/3/2012 11:31:27 PM     (No. 9047113)

#2, I understand there is a special tax on gold coins in there as well. I´m not kidding.


Reply 9 - Posted by: Trigger2, 12/4/2012 3:54:57 AM     (No. 9047256)

I don´t know about a tax on gold coins but I do know there is a provision in the Death Bill for the goobermint to confiscate all your gold.

Time to sell any stock that pays dividends. Even that fool of a CEO (forget the company) who was vocal in approving a higher dividend tax is now paying a dividend in 2012 to avoid the 2013 tax because he owns a lot of stock and it meant over a $4M savings to him. Demonrats are truly hypocrits.

Here comes a deeper recession.


Reply 10 - Posted by: mickeymat, 12/4/2012 7:30:23 AM     (No. 9047382)

This tax also affects when you sell your house since in that year your gain will place you in the so called "rich" income category.


Reply 11 - Posted by: civilservant, 12/4/2012 9:49:23 AM     (No. 9047683)

#9, Costco.



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IRS aims to clarify investment
income tax under healthcare law
Reuters, by Patrick Temple-West    Original Article
Posted By: Buckeye11- 12/3/2012 7:58:29 PM     Post Reply
Washington - The Internal Revenue Service has released new rules for investment income taxes on capital gains and dividends earned by high-income individuals that passed Congress as part of the 2010 healthcare reform law. The 3.8 percent surtax on investment income, meant to help pay for healthcare, goes into effect in 2013. It is the first surtax to be applied to capital gains and dividend income. The tax affects only individuals with more than $200,000 in modified adjusted gross income (MAGI), and married couples filing jointly with more than $250,000 of MAGI. The tax applies to



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