Sentences with phrase «magi exceeds»

For every $ 1,000 (or fraction of $ 1,000) your MAGI exceeds the trigger point, you lose $ 50 of credit.

If the MAGI exceeds $ 110,000, that individual is totally barred from making Roth IRA contributions.

If your net investment income is $ 1 or more, Form 8960 helps you calculate the NIIT you owe by multiplying the amount by which your MAGI exceeds the applicable threshold or your net investment income — whichever is the smaller figure — by 3.8 percent.

Your Social Security may be taxed if you earn income from other sources and your MAGI exceeds the base amount for your filing status.

The most significant impacts I have seen at this point are for married couples whose modified adjusted gross income MAGI exceeds $ 250,000 and individuals whose incomes exceed $ 200,000.

If you're married filing separately, you can't make a full contribution, and your contribution limit hits $ 0 as your MAGI exceeds $ 10,000.

If your MAGI exceeds $ 71,000 and you also have an employer - sponsored retirement account, you aren't eligible for the deduction at all.

Not exact matches

Your modified adjusted gross income (MAGI) can't exceed $ 65,000 as a single filer or $ 131,000 if you're married and filing jointly.

If you are Married Filing Jointly, you lose the ability to contribute to a Roth IRA if your Modified Adjusted Gross Income (MAGI) exceeds $ 194,000 (2016), the limit is $ 132,000 if you are single.

Each Child Tax Credit you qualify for will be reduced by $ 50 for every $ 1,000 your modified adjusted gross income (MAGI) exceeds the lower threshold.

The amount you owe is based on the lesser of your total net investment income or the amount of your MAGI that exceeds $ 200,000 for individuals, $ 250,000 for couples filing jointly, or $ 125,000 for spouses filing separately.

In other words, you owe the 3.8 % tax on the amount by which your investment income exceeds the income thresholds, or, if your wages alone already are higher than the income thresholds, you'll owe tax on the lesser of net investment income or MAGI that exceeds the thresholds.

The NIIT is levied on the lesser of net investment income or the amount by which modified adjusted gross income (MAGI) exceeds $ 250,000 for couples filing jointly, and $ 200,000 for single filers.

Individuals whose income does not exceed the modified adjusted gross income (MAGI) limits may contribute to a Roth IRA.

Previously, you were ineligible if your modified adjusted gross income (MAGI) exceeded $ 100,000.

To contribute to a Roth IRA via conversions, your MAGI must not exceed $ 100,000.

If you or your spouse contributes to an employer - sponsored retirement plan, such as a 401 (k) or 403 (b), and your Modified Adjusted Gross Income (MAGI) exceeds annual limits, you may need to reduce or entirely eliminate your IRA deduction.

Each Child Tax Credit you qualify for will be reduced by $ 50 for every $ 1,000 your modified adjusted gross income (MAGI) exceeds the lower threshold.

The meals, entertainment, and gifts were part of form 2106, which totaled, and then were deductible to the extent they exceeded 2 % of MAGI.

In order for a couple to file under the Joint Filing case, their modified adjusted gross income (MAGI) must not exceed $ 150,000.