讓地主們困惑的MAGI

眾所周知的是：

Most rental owners claim tax losses (to reduce W-2 income if any), 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，每年稅季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。

MAGI calculation

To calculate your modified adjusted gross income, take your AGI and add back certain deductions. Many of these deductions are rare, so it's possible your AGI and MAGI can be identical. According to the IRS, your MAGI is your AGI with the addition of the following deductions, if applicable:

• Student loan interest
• One-half of self-employment tax
• Qualified tuition expenses
• Tuition and fees deduction
• Passive loss or passive income
• IRA contributions, taxable social security payments
• The exclusion for income from U.S. savings bonds
• The exclusion under 137 for adoption expenses
• Rental losses
• Any overall loss from a publicly traded partnership

怎麽樣，現在恍然大悟了吧？！  山姆讓人暈，不暈都難。 

Happy Filing!

REFERENCE:  turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Return/What-Is-the-Difference-Between-AGI-and-MAGI-on-Your-Taxes-/INF22699.html