Sentences with phrase «modified adjusted»

«The amount actually subject to the tax is the lesser of your net investment income or the amount by which your modified adjusted gross income exceeds the threshold ($ 250,000, $ 200,000, or $ 125,000) that applies to you,» said Sibley.

To make a full contribution, your modified adjusted gross income must be less than $ 114,000 for the year if you're single or $ 181,000 if you're married and file jointly.

If your Modified Adjusted Gross Income (MAGI) is below certain thresholds ($ 150k if married filing jointly) then you can write off a certain amount of your passive losses against your ordinary income.

This passive loss allowance is phased out if your modified adjusted gross income is above $ 100K and disappears completely at $ 150K and above.

Is available to first - time homebuyers only with a modified adjusted gross income less than $ 95,000 for a single tax payers or $ 170,000 for married filers.

Tax credit begins to phase out for modified adjusted gross income (MAGI) over $ 125,000 (or $ 225,000 for joint filers).

According to the IRS, the home buyer tax credit now phases out for individuals with modified adjusted gross incomes between $ 125,000 and $ 145,000, and between $ 225,000 and $ 245,000 for people filing joint returns.

The full credit will be available to taxpayers with modified adjusted gross incomes up to $ 125,000, or $ 225,000 for joint filers.

The adoption credit and exclusion are phased out ratably for taxpayers with modified adjusted gross income between $ 182,520 and $ 222,520 (indexed for inflation after 2010).

For example, a single person phases out of Roth IRA contribution eligibility when they have a modified adjusted gross income between $ 117,000 and $ 132,000.

If your estimated 2014 «Modified Adjusted Gross Income» is more than 200 % of the FPL, but less than 400 % of the FPL you may be eligible for advanced premium tax credit (subsidy to reduce your monthly premium).

It's important to understand that the amount of premium subsidy you receive is related to your modified adjusted gross income (an ACA - specific calculation, which differs from normal modified adjusted gross income), but the premiums you pay for health insurance as a self - employed person are a factor in determining your modified adjusted gross income.

Tags: benchmark plan, federal poverty level, MAGI, metal plans, modified adjusted gross income, premiums, Silver plan

For 2016, the tax is 2.5 % of modified adjusted gross household income or $ 695 per person, whichever is greater.

To be eligible in 2018, you need to have a modified adjusted gross income of $ 80,000 or below if single, and $ 160,000 if married and filing jointly with your spouse.

Keep in mind, there are additional contribution limitations on Roth IRAs, depending on your filing status and modified adjusted gross income or MAGI.

The amount of subsidy will vary depending on where you live, the size of your family and the modified adjusted gross income (MAGI) you report on your tax return.

Conversions before January 1, 2010 were restricted to those with a modified adjusted gross income of $ 100,000 or less.

However, your credit is reduced if your modified adjusted gross income (MAGI) is more than:

The credit and exclusion are reduced if your modified adjusted gross income is between $ 182,180 and $ 222,180.

An additional 3.8 % Medicare tax is imposed on certain net investment income (including ordinary dividends and capital gain distributions received from the fund and net gains from redemptions or other taxable dispositions of fund shares) of U.S. individuals, estates and trusts to the extent that such person's «modified adjusted gross income» (in the case of an individual) or «adjusted gross income» (in the case of an estate or trust) exceeds a threshold amount.

A modified adjusted gross income limit (MAGI) of $ 110,000 — $ 125,000 is set for single filers, head of households, and married couples filing separately but not living together.

If you're single, you can make a full contribution to a Roth IRA if your 2010 Modified Adjusted Gross Income is less than $ 106,000.

For 2017, those with Modified Adjusted Gross Incomes (MAGI) up to $ 118,000 are eligible to make full contributions.

However, if one or both are active participants, tax deductibility for joint filers phases out at a modified adjusted gross income (MAGI) of $ 99,000 to $ 119,000 for a participating spouse and $ 186,000 to $ 196,000 for a nonparticipating spouse in 2017.

The high end of the modified adjusted gross income of the taxpayer on which the tax benefits of the interest exclusion for the Education Savings Bond Program are based.

For the purposes of qualifying for the Premium Tax Credit, it is your modified adjusted gross income (AGI) plus the AGI of every other individual in your family who can claim a personal exemption and is required to file a tax return.

If that impacts you, you need to know the definition of «modified adjusted gross income».

The earning limits are also on based something called your modified adjusted gross income (MAGI).

There also is a 3.8 percent tax on net investment income for single taxpayers with modified adjusted gross income above $ 200,000 ($ 250,000 for married couples filing jointly).

The IRS states that the full credit is available to individuals whose modified adjusted gross income (MAGI) is $ 80,000 or less — or $ 160,000 or less for married couples filing a joint return.

Your deduction eligibility is gradually reduced and eventually eliminated by phaseout as your modified adjusted gross income (MAGI) increases to the annual limit for your filing status.

If you have some earned income and your modified adjusted gross income is below $ 132,000 single or $ 194,000 married filing jointly, you're eligible for at least a partial contribution to a Roth IRA.

If your income (modified adjusted gross income) is in between the floor and the ceiling then use the following equation to figure out your contribution limit.

A person may be limited in the amount of their contribution if their modified adjusted gross income exceeds a certain amount.

To determine your provisional income, take your modified adjusted gross income, add half of your Social Security benefits and add all of your tax - exempt interest.

Often, these deductions are limited if your modified adjusted gross income amount is too high.

Determining if an investor can deduct all or part of their Traditional IRA contribution is based on whether they have a retirement plan at work, their tax filing status, and modified adjusted gross income (MAGI).

In 2018, if you are married and filing jointly, you must have modified adjusted gross income (MAGI) under $ 199,000 to contribute up to the limit of $ 5,500 ($ 6,500 for those 50 years of age or older).

The ceilings are based on modified adjusted gross income, which is basically the adjusted gross income listed on your tax return with certain deductions added back in.

Must have MAGI (Modified Adjusted Gross Income) under certain thresholds to deduct contributions

For a Traditional IRA, full deductibility of a contribution is available to active participants whose Modified Adjusted Gross Income (MAGI) is $ 101,000 or less (joint) and $ 63,000 or less (single); partial deductibility for MAGI up to $ 121,000 (joint) and $ 73,000 (single).

Contributions may be limited by how much you earn — your modified adjusted gross income (MAGI) must be less than the annual limit set by the IRS.

The penalty fee is calculated based on your Modified Adjusted Gross Income and is due with your tax return on the tax deadline.

If your modified adjusted gross income is under $ 110,000 per year ($ 220,000 per year for married - filing - jointly taxpayers), then you're eligible to open a Coverdell ESA.

Those incomes are what the IRS calls a «modified adjusted gross income.»

The full credit is available to individuals whose modified adjusted gross income is $ 80,000 or less, or $ 160,000 or less for married couples filing a joint return.

The maximum deductible contribution to a traditional IRA and the maximum contribution to a Roth IRA may be reduced depending on your modified adjusted gross income.

For couples filing jointly, the upper modified adjusted gross income limit is $ 180,000.

Individuals will pay an additional 3.8 % in tax to Uncle Sam if they have Net Investment Income and a modified adjusted gross income over the amounts listed below: