A single filer has wages of 218.000 in tax yr.he earned an additional 25.000 in income...
A single filer has wages of 218.000 in tax yr.he earned an additional 25.000 in income from dividends and capital gain what is his income tax
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Answer:
If the Aggregate gross Income exceeds $200000 for a single tax payer. then that person comes under the category of net investment income tax.
Here $218000 + $25000 = $243000 exceeds the threshold resulting in net investment income tax
Rate at which net investment income tax will be applied is 3.8%
and it will be applied on the minimum of $15000 ( investment income ) or the amount exceeding the threshold income
here amount exceeding the threshold $43000( $243000 -$200000) is greater than 15,000
3.8% of 15000 = $570 is the net investment income tax
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