Magnum is single. He has some stock that he bought for $5.00 many years ago...
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Magnum is single. He has some stock that he bought for $5.00 many years ago which is now worth $30,000, and he would like to sell it. He has no other capital gains or losses. It is Nov 30, 2018. Magnum will have taxable income of $150,000 in 2018 (before this capital gain). He anticipates having taxable income of $450,000 (before this capital gain) and no other possible capital gains or losses in 2019. What might be a good end year tax planning strategy for Magnum?
Magnum is single. He has some stock that he bought for $5.00 many years ago which is now worth $30,000, and he would like to sell it. He has no other capital gains or losses. It is Nov 30, 2018. Magnum will have taxable income of $150,000 in 2018 (before this capital gain). He anticipates having taxable income of $450,000 (before this capital gain) and no other possible capital gains or losses in 2019. What might be a good end year tax planning strategy for Magnum?
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