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Tax help for military filers
??? Not sure we are actually tracking what you are asking.
ONLY the combat pay is not taxable.
Any other income due to interest, dividends, etc, and the trading of stocks will end up as potentially taxable income that you must report, irrespective of where you were physically located when that "other" income occurred. Whether the other types of income will end up being taxed depends on the gross total of all these other types of income....but, because the Combat Pay will not be added to your AGI in the first place, it makes it more likely that the eventual tax rate will be pretty low....if any tax is assessed. You still need to file a tax return, even if the rest of the income ends up not being taxed.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎April 5, 2022
3:58 PM