Tax Calculator

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Topic Author
gassert
Posts: 178
Joined: Thu Apr 26, 2007 7:50 pm

Tax Calculator

Post by gassert »

My father is thinking about selling some individual stocks with low cost basis for better diversification. He will be realizing capital gains that are relatively significant. As we explore options, one of the factors is the tax impact of the sale. He will certainly end up in AMT land and start to be in phase out ranges for itemization, etc.

As a rough estimate, is there a simple online calculator which we can plug in scenarios to get an idea what the real tax impact would be? Ie, if he sells $100k vs $200k, etc.

I know that turbo tax is an option, but with the time it takes to create a person and enter all the data I would think theres an easier (if not completely accurate) alternative. Let's plug in W2, SS, Cap Gain, Dedcution $ and there you go - tax due.

Thanks!

GG
nonnie
Posts: 1944
Joined: Thu Mar 13, 2008 8:05 pm
Location: Northern California

Re: Tax Calculator

Post by nonnie »

gassert wrote: As a rough estimate, is there a simple online calculator which we can plug in scenarios to get an idea what the real tax impact would be? Ie, if he sells $100k vs $200k, etc.
I find the online Turbo Tax calculator --Tax Estimator--very quick.

http://turbotax.intuit.com/tax-tools/
Topic Author
gassert
Posts: 178
Joined: Thu Apr 26, 2007 7:50 pm

Post by gassert »

Wow - that's awesome.

Anyone know of a link that would incorporate state tax issue? Maybe not, but thanks -
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