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Kisachek [45]
3 years ago
12

Alain Mire files a single tax return and has adjusted gross income of $309,000. His net investment income is $48,000. What is th

e additional tax that Alain will pay on his net investment income for the year
Business
1 answer:
Anuta_ua [19.1K]3 years ago
5 0

Answer: $1,824

Explanation:

According to the IRS, Net Investment Income tax is the lesser figure of either,

i. The net investment income or,

ii. Modified adjusted gross income less the threshold of $200,000 of the person.

The lesser figure is then multiplied by 3.8% to find the tax.

Alain Mire's net Investment Income is $48,000.

His Modified adjusted gross income less the threshold of $200,000 is,

= 309,000 - 200,000

= $109,000

The lesser figure is his Net Investment Income so Additional Tax is,

= 48,000 * 3.8%

= $1,824

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