Anyone else get hammered on their taxes this year?

[sniper7]

Ouch.

Selling real estate can really suck if you aren't putting it back into real estate.

On,y if it isn't your primary residence. You could net you a profit of 250K without paying any taxes. Double that married.

[sniper7]

I'm taking it hard without lube - left my job, so had to convert a bunch of stock options, which incurred biggest-ever taxable income for me. Might even have to sell some of the stock to pay the taxes on exercising the options

I know, #1%Problems

Stock? Is that stuff like in the cans at the store...like chicken stock? You must have a big building to keep all those cans in!

[Irving]

On,y if it isn't your primary residence. You could net you a profit of 250K without paying any taxes. Double that married.

Assuming you've lived there for two of the last five years.

[J]

Took a lot of late 2014 income at the beginning of 2015, s the estimated taxes were off a good bit, and had a good year. I still have to do a final review and hopefully find a few more deductions, but it's pretty close right now.

The number I'm looking at having to send is super painful.

[StagLefty]

Paid 0 getting back 0 SS isn't enough for me to file anymore. Guess I should have planned better

[Dave_L]

I got a little back this year. Not much but its better than what I had to pay last year. But last year, I adjusted some deductions to get more money up front for some things so I knew the hit was coming.

[hghclsswhitetrsh]

Yes.

[Drucker]

First time in my life I have had to send a check. Got a raise last year and it pushed me up to the next bracket... EEEK I didn't need that 5k I guess


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[Dave]

Our tax bracket went up this year with both of us getting promotions, but we also bought a house and got deductions from interest and origin point so we still got a little back.

[gnihcraes]

Yup, both of us got promotions and salary increases. Will end up paying $~4000 or so the wife said.