Wed Apr 10 2024, by Tyler Gardner
Tyler? Yep. Looks like you had $100,000 in income this year. You owe us $17,832 in tax-
Oh, no. Maxed out my 401k with $20,500. My HSA was $7,300. My traditional IRA with another $6,000. $14,000 of that was from renting out my house for two weeks. $50,000 of that was capital gains from the sale of our home. Really? Yep.
Oh, so only $3,500 of taxable income? Oh. Actually donated that to a 501c3 non-profit. So, zero taxable income? That sounds about right.
Source