shoop27
Level 2
12-07-2019
05:41 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
The limit for a Married couple to fall within the 12% tax bracket for $0 tax on Qualified Dividends & Capital Gains for 2018 is $77,400. The program is still using 2017 limits & $77,200?? Am I seeing this wrong?
Solved! Go to Solution.
Labels
Ernie
Level 9
12-07-2019
05:41 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No, the breakpoints no longer follow the tax brackets for regular income tax purposes. For 2018 the breakpoint for MFJ is 77,200.
TaxGuyBill
Level 15
12-07-2019
05:41 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Interesting, I did not realize that, but I looked it up and you are right.
But now comes the question: Why the %^#$%$%# would Congress do that? Weren't they supposedly trying to "simplify" things?
But now comes the question: Why the %^#$%$%# would Congress do that? Weren't they supposedly trying to "simplify" things?
rbynaker
Level 13
12-07-2019
05:41 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I think it's a budget thing. They changed the rules on how things scale for inflation.
shoop27
Level 2
12-07-2019
05:41 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Well how bout that. I had a client that hovered just around the limit & I happened to notice it. I appreciate the responses & the clarification. Thanks guys. And good job ProSeries! Like TaxGuyBill said, they can never make things easy. As always, learn something new every day in this business...
Ernie
Level 9
12-07-2019
05:41 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
@shoop27 you are welcome. It is when you stop learning things that you have to worry.
