讓地主們困惑的MAGI

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 與 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？ ” 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.

http://turbotax.intuit.com/tax-answers/?state=1365481914283

怎麽樣，現在恍然大悟了吧？！  山姆讓人暈，不暈都難。  什麽，更暈？ 好吧，來看通俗版。 

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