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Get your taxes done using TurboTax
@mostinc wrote:
...If I sell long term investments which keep my total income say at 65000 will the amount that is not taxed due to long term still enter into the calculation for MAGP or is it deducted before it goes into this calculation?
It is unclear, to me at least, whether you are referring to the capital gains tax rate or the total gain.
Regardless, your MAGI will include all of your net capital gains, even those that are taxed at 0%. For example, if your income without capital gains is $29,000 and you have $36,000 in long-term capital gains, then your MAGI would be $65,000 (i.e., it would include that part of the gain taxed at 0%).
‎December 12, 2019
3:52 PM