Today on the podcast we talk about a variety of topics that we think you will find helpful. We discuss tax credits, foreign tax credits, insurance tax code changes, and how a 7702 is not something we are excited about at WCI. We talk about Roth conversions during retirement and a host of other topics. We also have a husband and wife doctor duo on the podcast. They are guests we have had before, and they are the creators of the online course Zero to Freedom that will teach you all about cash-flowing real estate properties.
Tax Credits
“Hi, Dr. Dahle. I’m in a fairly unique situation in that I’m graduating from residency in the military and my income will ideally only ever go up from here. Projecting out my federal taxes this year, it looks like I will likely have zero federal taxes from the various credits I’m eligible for, with a good amount left over. My understanding is that most of these credits are unable to carry forward to a future tax year. I’m curious if I can take advantage of this situation to offset future taxes in other ways. I have been fortunate to have grandparents who bought me stocks and bonds when I was a very young child that have appreciated significantly. Would it make sense to cash out these investments now and be able to offset a good amount with capital gains? If I wanted to keep the particular stocks that I have, can I just repurchase the same stocks…
