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Applying the New Net Investment Income Tax to Trusts and …
WebFeb 17, 2016 · Strategies to Reduce Your Modified Adjusted Gross Income: Invest more taxable investment funds in municipal bonds. Interest income from municipal bonds is federally tax exempt and also state exempt if bonds are issued by your resident state. If you are subject to the NIIT, be sure to include the 3.8% in your municipal bond interest … WebIn general, the allowable federal deduction is limited to 50% of the expense. However, for tax years 2024 and 2024, ... A subtraction is allowed for interest and other income earned on the investment of money in a first-time home buyer savings account, ... for instructions in calculating net Colorado tax liability. Additionally, ... trails west burandt edition trailer
Individual Income Tax Guide Department of Revenue - Taxation - Colorado
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