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.
the maximum tuition and fees deduction in 2014 is $ 4000 $ 2000 or $ 0 depending on the amount of your magi see effect of the amount of your income on the amount of your deduction laterou claim a tuition and fees deduction by completing form 8917 and submitting it with your form 1040 or form 1040a enter the deduction on form 1040 line 34 or form 1040a line 19 a filled in form 8917 is shown at the end of this chapter