Sentences with phrase «exempt for joint filers»
Most forms of retirement income are taxable at ordinary income rates, though Social Security benefits are exempt for joint filers with an adjusted gross income of $ 58,000 or less or $ 43,000 for single filers.
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The first $ 1,250 in taxable income for individuals ($ 2,500 for joint filers) is exempt.
Capital Gains Exemption: Retain current law of exempting gains of up to $ 250,000 for single filers and $ 500,000 for joint filers for primary residence lived in for two of the past five years of ownership.