Retirement tax questions


@Trollhunt87 wrote:

"...... This is happening because the AGI isn't calculated until the deductions and other savings portion is completed. ....."


 

Something is not right with what you are saying though.

 

AGI is line 11 on your form 1040.....i,e, all your income Before any deductions.

(OK..mabe some miscellaneous subtractions from line 10...but not the big ones like the MFJ Std Deduction)

 

"Taxable income" is after major deductions...either the big Std Deduction for MFJ, or itemized deductions...but that is not AGI.

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I'll go try a test file though to see what happens for MFJ AGI= 75,000

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*