MARRIED TAXPAYER PENSION INCOME 40000
SOCIAL SECURITY INCOME 10000
MUNICIPAL INTEREST 1000
Year 2018
what is the AGI?
AGI is adjusted Gross Income
here it is assumed that person is married and filling separately for tax and not jointly with spouse.
Calculation of AGI
income
Pension Received=40000
interest earned =1000
1/2Social Security Interest=5000
Provisional Income= $46000
So now the 85% of SSI is taxable as it bypass the threshold of $44000
So AGI will be
Pension Income= 40000
Social Security Interest= 8500
Total AGI= $48500
MARRIED TAXPAYER PENSION INCOME 40000 SOCIAL SECURITY INCOME 10000 MUNICIPAL INTEREST 1000 Year 2018 what is...
MARRIED TAXPAYER PENSION INCOME IS 30000 SOCIAL SECURITY INCOME 10000 MUNICIPAL INTEREST 1000 Year 2018 what is the AGI?
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