Sentences with phrase «magi above»

The ability to contribute to a Coverdell ESA phases out for individual taxpayers with modified adjusted gross income (MAGI) above $ 95,000 and disappears completely for MAGI above $ 110,000.

There are two types of additional Medicare tax: The 3.8 % Medicare tax is levied on the lesser of net investment income or MAGI above the thresholds.

Not exact matches

However, you may not qualify for that deduction if your MAGI is above a certain level.

That way, it works regardless of whether his MAGI is above or below the line.

The tax laws limit the eligibility to contribute to a Roth IRA based on MAGI ranges that are published annually and correspond to your federal tax filing status — if your MAGI is less than the lower limit, you are eligible to contribute up to the annual contribution limit for the year; if your MAGI is between the limits, you are eligible to make a partial Roth IRA contribution; and if your MAGI is above the upper limit you are not eligible to contribute to a Roth IRA.

If your MAGI is above the upper limit of the phaseout, you can not contribute to a Roth.

The decision to take advantage of the above strategies depends a lot on your specific situation especially as it pertains to your income (MAGI).

If your MAGI is above $ 199,000, you can not contribute to a Roth IRA at all.

The net passive loss allowance is $ 0 at $ 150K MAGI and above.