| BUSINESSWEEK ONLINE : FEBRUARY 1, 1999 ISSUE | ||||||||
| ||||||||
 | ||||||||
| PERSONAL BUSINESS
Tax Tips Many investors in mutual funds with foreign assets and direct investors in some foreign securities no longer have to file Form 1116 to claim a tax credit. Most couples with credits of $600 or less can take them directly on their 1040 You still have until Apr. 15 to make a 1998 deposit into a Roth or traditional IRA. It's too late to spread out taxes on converting an IRA to a Roth The value of assets you can pass to heirs tax-free will rise to $650,000 in 1999, on its way to $1 million in 2006. Be sure to adjust your will to the new limits Mercifully, the three-tier capital-gains rate is history. The gain on any assets sold in 1998 will be taxed at 20%--as long as they were held for more than a year EDITED BY AMY DUNKIN _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
|  |
 | |
Return to main story
INTERACT E-Mail to Business Week Online | |||
