Tag Archives: investment income

Investment Income Taxes

The tax law did not changed the favorable rates for long-term capital gains and many dividends, and there is still a popular zero rate for these types of investment income. For 2018, the zero rate applies to jointly filed married couples who have a taxable income of up to $77,200 ($38,600 for singles). A rate […]

Even if you received unemployment compensation during the year, you may still be able to claim the Earned Income Credit. However, you’ll need to meet a few requirements first. The EIC, as its name suggests, require you to have “earnings”, sourced from the act of providing services in exchange for compensation – for example: employment. […]

Interest is usually charged on money you borrowed. There are certain situations where interest can be claimed either as a deduction or a credit. In order to deduct interest, you have to make sure it qualifies and see how you should deduct it. Interest that you have prepaid need to be deducted throughout the tax […]

What Is the Net Investment Income Tax?

This year, taxpayers may notice a new tax that applies to income from investments. Known as the Net Investment Income Tax, you may be responsible for paying this tax if your regular income is over a certain threshold, and you have investment income. If you think you might be subject to this tax, you’ll want […]

Taxpayers are required to pay tax on any income received from investments. The same applies to children with investment income. If a child is unable to file their own return, the responsibility lies with the parent or legal guardian to ensure a tax return has been filed correctly. Depending on the type of investment income, […]