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Retirement tax questions
@8960niit you are misreading it.
LIne 11 is being pulled over to determine if you are above $200,000 (or $250,000 if filing joint). The tax itself is 3.8% of the income over $200,000 (or $250,000) OR the investment income, which ever is less
Let's say your AGI is $225,000, and you are filing Single.
Let's further say your investment income is $40,000,
then the 3.8% is applied to
the lesser of
$25,000 (the part that exceeds $200,000)
or $40,000
so 3.8% times $25,000 would be the tax,
‎October 27, 2023
9:58 AM
3,412 Views