讓地主們困惑的MAGI

本帖於 2012-04-03 18:43:46 時間, 由普通用戶 美西遊子 編輯

 

眾所周知的是

Most rental owners claim tax losses, even when they are making a profit. You can deduct up to $25,000 of rental losses on your tax return if your adjusted gross income is less than $150,000.

 

If your adjusted gross income is less than $100,000, you can deduct the full $25,000.

 

If your adjusted gross income is between $100,000 and $150,000, you can deduct up to ($150,000 – Your Income)/2. So if your AGI is $120,000, you can deduct up to $15,000 (150k – 120 k)/2.

 

鮮為人知的是

 以上的AGI 嚴格地說,應該是MAGI.   那麽什麽是MAGI?  MAGI AGI又是啥關係呢?

 

關於這個,我曾經回答過網友,也寫過貼。 可是,隨著今年稅季已近尾聲,還是有不少地主們前來提問: rental loss 把我的AGI降至150K以下了,是不是我就可以申報出租虧損了呢?   還有人說,我的AGI明明低於150K,為什麽不允許申報出租虧損?等等。

 是啊,也難怪,畢竟,一年隻報稅一次,誰沒事,老惦記著MAGI呢!

我們還是言歸正傳來談MAGI定義。

Per IRS (http://www.irs.gov/businesses/small/article/0,,id=146823,00.html),  

 

Modified Adjusted Gross Income Computation

Modified adjusted gross income (MAGI) for FORM 8582 line 7 is determined by computing:

AGI without:

  • Any passive loss or passive income, or                            
  • Any rental losses (whether or not allowed by IRC § 469(c)(7)),  or
  • IRA, taxable social security or
  • One-half of self-employment tax (IRC § 469(i)(3)(E)) or      
  • Exclusion under 137 for adoption expenses or
  • Student loan interest.
  • Exclusion for income from US savings bonds (to pay higher education tuition and fees)
  • Qualified tuition expenses (tax years 2002 and later)
  • Tuition and fees deduction
  • Any overall loss from a PTP (publicly traded partnership)

OR you can do the following alternative computation.

If there are capital gains/losses from passive activities, use method above.

Adjusted Gross Income Per Return                                                      _______________

+ Audit Adjustments Affecting AGI                                                   +/-_______________

   Except passive activities (rentals and passive businesses)

- Taxable Social Security IRC § 86                                                   - ________________

+ IRA Deductions   IRC § 219                                                           + ________________

+ Deduction for 1/2 Self Employment Tax                                       + ________________

+ Passive Losses IRC § 469(i)(E)(iv)                                              + ________________

     Passive loss=Net rental loss  and

     Passive Business Loss  (Excess passive losses after netting with passive income)

+ Rental Real Estate Losses per 469(c)(7) IR§469(i)(E)(iv)            + ________________

+ Nontaxable Income from US Savings                                           + ________________

   Bonds Used for Higher Education

+ Exclusion under IRC§137 for adoption expenses (W-2)              + ________________

+ Student loan interest deduction                                                    + ________________

Modified Adjusted Gross Income Form 8582                             = ________________

 

說到這,我知道,不少人已雲裏霧裏啦哈。 還是讓數據來說話比較直觀。

 

The rental losses allowance is phased out when your modified
adjusted gross income is over $100,000.  For every dollar of 
income over $100,000, the allowance is reduced by 50 cents.  The
table below breaks down the phase out in $10,000 increments:

MAGI is
Up to $100,000                                 $
110,000
120,000
130,000
140,000
150,000 or more

Loss allowance is
25,000
20,000
15,000
10,000
5,000
0

Example: In 2011, Jennifer Whistler had a salary of $130,000,
$4000 of income from a limited partnership, and a $37,000 loss from
a rental building in which she actively participates.  Jennifer may 
deduct only $10,000 of the rental loss.  $4,000 of the loss offsets her
income from the partnership.  The remaining $23,000 must be 
carried over to 2012.  This is determined as follows:

MAGI                                                   $
 Less: amount not subject to 
             phaseout

Amount subject to phaseout        $
Phase-out percentage

Portion of allowance phased out

Maximum loss allowance             $
 Less: amount phased out

Deductible rental loss 
 allowance                                         $


Passive loss from real estate     $
 Less: passive income from
            partnership

Passive activity loss                      $
 Less: Deductible rental loss
            allowance

Carry over loss to 2012                 $

130,000

100,000
-----------
  30,000
          50%
-----------
   15,000

   25,000
   15,000
-----------

   10,000


   37,000

     4,000
-----------
   33,000

   10,000
-----------
   23,000



Married Filing Separately
As noted above, if you are married and file separately, the phaseout
allowance of $25,000 is split to $12,500.  

怎麽樣,現在恍然大悟了吧?!  山姆讓人暈,不暈都難。

值得注意的是,when you deal with  IRA-contribution deductions and deductions for higher-education costs, MAGI, not your AGI, must be taken into consideration. 



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    暈!!! -北燕- 給 北燕 發送悄悄話 北燕 的博客首頁 (0 bytes) () 04/02/2012 postreply 13:00:56

    你沒救了! -美西遊子- 給 美西遊子 發送悄悄話 美西遊子 的博客首頁 (38 bytes) () 04/02/2012 postreply 13:14:40

    用報稅軟件,會自動算MAGI,比自己手填表靠譜。 -laoyangdelp- 給 laoyangdelp 發送悄悄話 laoyangdelp 的博客首頁 (0 bytes) () 04/02/2012 postreply 13:54:10

    the problem w/ TT is -美西遊子- 給 美西遊子 發送悄悄話 美西遊子 的博客首頁 (169 bytes) () 04/02/2012 postreply 14:30:48

    同暈。AGI超過150k呢? -Nonsense123- 給 Nonsense123 發送悄悄話 Nonsense123 的博客首頁 (0 bytes) () 04/02/2012 postreply 15:47:20

    比較慘! -美西遊子- 給 美西遊子 發送悄悄話 美西遊子 的博客首頁 (77 bytes) () 04/02/2012 postreply 16:31:31

    Follow. Thanks! -螺絲螺帽- 給 螺絲螺帽 發送悄悄話 螺絲螺帽 的博客首頁 (0 bytes) () 04/02/2012 postreply 21:24:41

    Very helpful. Thanks -CAgrass- 給 CAgrass 發送悄悄話 (0 bytes) () 04/03/2012 postreply 22:56:38

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