On the Economic Assumptions | Taxes tab does the “Share of taxable regular asset income received as capital gains or dividends” apply only to Mutual Funds and Stocks on the Assets & Saving | Regular Assets tab?
Disclaimer: ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO, are educational calculators designed to give users input in mapping out financial futures, but should not be acted upon as a complete financial plan. The creators of these programs are not certified, registered, authorized, or any other type of financial planners. These programs are simply tools for helping you think through economic futures. Its "recommendations" should be viewed as informative inputs into your own decision-making with respect to saving and the purchase of life insurance. ESPlannerBASIC, ESPlanner, ESPlannerPLUS and ESPlannerPRO provide neither economic, financial nor tax advice, which can only be delivered to you by authorized professionals.
RSS
The answer is yes. best, Larry
A test of ESPlanner shows that if you have Assets&Savings->Regular Assets->Checking and Savings accounts=$10,000,000 and Assumptions->Nominal Rates of Return->Regualr Assets=1%; Assumptions->Taxes->Share of taxable...income...as capital gains or divdiends=100%, then the $100,000 income in the first year is taxed cpaital gains, not ordinary income, rate. So it seems income from any asset catagory on Assets&Savings->Regular Assets tabs is subject to the Assumptions->Taxes->Share of taxable...income...as capital gains or divdiends field, not just Mutual Funds and Stocks.
Yes, that's correct. The UI doesn't differentiate between the various categories of savings assets so the %age of income as capital gains is based on the total of your regular assets.
Best,
Dick Munroe