Here's something I want every advisor to run on their clients' returns this season: after applying all the new OBBBA deductions, rerun the capital gains calculation. Because the number is going to be different — and sometimes significantly so.
All the new deductions — SALT, tips, overtime, car loans, the senior deduction — reduce AGI. And reducing AGI isn't just about the deductions themselves. It can shift a client's capital gains rate from 20% all the way down to 15%. It can even eliminate the 3.8% net investment income tax entirely. Same income. Totally different tax.
That's the stacking effect. Each provision doesn't just work on its own — it changes the tax environment for everything else on the return.
A couple of practical things to flag: for Qualified Opportunity Zone investments, acquisition date is what matters, not the delivery date. And the capital gains question — did the client sell investments, real estate, crypto, anything — rolls naturally into the Section 1202 C corp stock question. I run those together because they're related conversations.
If y'all haven't been rerunning the capital gains picture after applying the new deductions, this is the clip to come back to.
Watch the full recording here: https://www.taxplaniq.com/obbba-changed-everything-about-2025-returns-heres-what-you-need-to-know-before-april-15-recording
Drop your questions in the comments.
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