Sentences with phrase «agi determines»

Not exact matches

Understanding the difference between your AGI and MAGI will help you determine what tax breaks are available to you.

To determine the income with which to calculate your tax bill in Nebraska, you begin with your federal adjusted gross income (AGI).

Your MAGI is determined by taking your AGI and «adding back» certain deductions.

Your MAGI is determined by taking your AGI and adding back certain items — including foreign income, student loan interest, qualified tuition expenses, rental losses, and IRS contributions.

The TaxBreak $ 1k used the bottom AGI division to determine what marginal tax bracket the household fell into.

The IRS uses your AGI to determine whether you can claim certain deductions and credits and the amounts you're eligible for.

Throughout your tax return form, there are many opportunities to take deductions, some of which reduce your total income to determine AGI, and some that are taken in later parts of the return.

The amount is determined using an Adjusted Gross Income (AGI) calculation.

The only provision is that, if you're married and your spouse is eligible for an employer's plan, your combined adjusted gross income (AGI) determines whether or not you can deduct.

AGI is often used to determine limitations elsewhere on the tax return, so a first - page deduction is useful.

A formula using adjusted gross income (AGI), family size and state of residence will determine how much a borrower is able to pay.

The rate is determined by your AGI, but it is currently (in 2014) less than the rate you pay on your ordinary income.

Your MAGI is determined by taking your AGI and «adding back» certain deductions.

In order to apply the earned income and adjusted gross income (AGI) limitations, you must determine if you have a qualifying child.

Your adjusted gross income (AGI) determines which marginal tax bracket you fall into, and thus, which tax rate applies to you.

The IRS uses a percentage of adjusted gross income — AGI — to determine whether some deductions can be used such as medical and certain miscellaneous expenses.

The formula that the government uses to determine the monthly payment expected under this program is 10 % of the difference between your AGI and 150 % of the Poverty Guideline for your family size.

You must claim on 1040 line 29 first, because the amount is part of the calculation for AGI, and AGI is the basis for determining how much you can claim on Schedule A.

Those 401k contributions lower your AGI and MAGI (adjusted gross income and modified adjusted gross income), which determines your eligibility for many tax credits and deductions.

, as well as determining Adjusted Gross Income (AGI) and any tax - related adjustments or thresholds based on AGI.

The government generally uses the following process to determine your payment, ``... once the rehabilitation discussion has begun, initially considers a borrower's reasonable and affordable loan rehabilitation payment amount to equal 15 percent of the amount by which the borrower's Adjusted Gross Income (AGI) exceeds 150 percent of the poverty guideline amount applicable to the borrower's family size and State, divided by 12.

Under the income - driven plans, monthly payments are determined based on adjusted gross income (AGI) as reported on your federal tax return and the federal poverty rate that corresponds to your family size.

The Saver's Credit is equal to a percentage of your eligible contributions — 10 %, 20 % or 50 % — as determined by your AGI and filing status.

Our AGI is very important as it not only affects our tax hit, it also determines our student loan payments.