I'm seeking tax advice.
I live in a tax free state now (TX) and am planning to move to California next year. I have long term investment stock worth $1 million and wages of $50000. How much should I sell this year? Since I'm in tax free state now, I'll pay less tax than I would next year in CA, but on the other hand, if I sell more than $200,000 I need to pay medicare investment tax. What is the best strategy?
I should also add that the only reason I want to sell now, is to generate a tax event. I expect the stock price to go up, so I would like to buyback 80% of the stock.
