So you'd end up paying 1.45% on the first $200,000 and 2.35% on the rest. The 0.9% Medicare surtax is a recent change and is intended to help pay for health reform. Investment income taxes: Capital gains, dividends and interest represent unearned income..
The tuition and fees deduction sounds good on the surface; it offers up to a $4,000 deduction. This option is open even if you donât itemize deductions. But since the deduction is for the taxpayer, not the student, it may not be the most beneficial for taxpayers with more than one student in the family.
you paid $ 3500 of qualified education expenses in december 2014 and your child began college in january 2015 you claimed $ 3500 as the tuition and fees deduction on your 2014 income tax return the reduction reduced your taxable income by $ 3500ou can claim a tuition and fees deduction for qualified education expenses paid with the proceeds of a loan use the expenses to figure the deduction for the year in which the expenses are paid not the year in which the loan is repaid