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If you are an individual who is exempt from Medicare taxes, you still may be subject to the Net Investment Income Tax if you have Net Investment Income and also have modified adjusted gross income over the applicable thresholds.
Related Articles. 1  Tech. Top Tax Tips to Deduct Investment Management Fees Investment expenses can be deducted by those who meet three main criteria. 2  Taxes. An Overview of Itemized Deductions Not taking the standard deduction this year could save you hundreds of dollars. 3  Taxes.