"Phil Marti" <prm20871[at]verizon.net> wrote
- quote -




The election is in 08, with the newly elected
croo.....representatives..........to be installed in 2009. Expect new
legislation for 2009, and ~~that~~ legislation stands a good chance to be
retroactive to the start of 2009, but shouldn't cut into 2008 transactions.

We're banking on major tax legislation (sunsetting provisions, AMT, etc) by
whatever mix of "Dems" or "Cans" gets elected this next fall.





--
Paul A. Thomas, CPA
Athens, Georgia

"tobe" <ybotkaSPM[at]cinci.rr.com> wrote:

- quote -

No
- quote -

Highly doubtful IMO. Remember that there won't be a new President until
January 2009, and I don't see any way Congress could muster enough votes to
override an expected veto of any change.

--
Phil Marti
Clarksburg, MD

Any word on any proposed changes to the current 2008 Capital Gains rate
(0% for lowest bracket)?

I have kids college tuition due in January, and will need to sell some
stocks. I have enough tuition tax credit from this year that I could
sell before Dec 31 & pay no Capital Gains tax...but I would rather do a
Roth conversion of the equivalent amount and defer stock sales to January.

Is it likely that if Congress changes CG tax rates during 2008, it would
be retroactive to the whole year? [Yes, I know they CAN do anything
they WANT...but opinions on likelihood are welcome.]