Mitch a single filer has wages of $188,000 in the tax year. He earned an additional...
Homework Answers
The answer is 2
2. $114
Solution :-
Total AGI = $188000 + 15000 = $203000
AGI exceeds limit of net investment income tax
(As per Act limit of net investment income tax for Single Tax Payer is $200000)
3.8% rate applied for net investment income tax
Net Investment Income Tax :-
= ($203000 - $200000)*3.8%
= $3000*3.8%
= $114
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