Exactly how much is owed to the IRS on an investing income of 95,000 a year without any other income?, Thanks.

Answer 1

We need to know how much was qualified dividends, how much is long-term capital gain and whether there is any income from sources other than publicly-quoted stocks or bank accounts. We also need to know filing status and number of exemptions claimed. The amount of any legitimate itemized deductions may also be relevant.

Answer 2

This actually depends on your exact situation, what state you live in, what your deductions are, how many dependents you have, etc. So, I'll give you a general answer for the 2007 calendar year.

$95,000 Investment (unearned) Income
- $5,000 Standard Deduction
= $90,000 Income

The next question is how much of this is a short-term capital gain (you bought and sold in less than a year) vs. long-term capital gain (you sold the investment after holding it at least 1 year and a day).

Long-term capital gain tax rate = 15%
Short-term Capital gain tax rate = 25%

So if it's all long-term capital gains, then .15 X 90,000 = $13,500

Answer 3

Would need a lot more info to give an accurate answer, but probably less than $18,500, very likely a lot less. Would need to know the type of investment, how long the various investments were held, your filing status, number of dependents, and deductions you might have. Would also need to know what you paid for the investments that you sold, or if that's all interest and dividends and you didn't sell.

Answer 4

Is that in dividends? Growth? Interest income? Capital gains?

It all depends on your answer to those questions and more...

but a reasonable "guesstimate" would be ~$25,000...

Answer 5

We can't tell without more information.

Answer 6

talk to an accountant