tailieunhanh - New 3.8% Medicare Tax on "Unearned" Net Investment Income

The economic reforms implemented since the signing of the GPA have borne positive results for the economy. Real GDP grew by about 6% in 2009 and is estimated to have grown by 9% in 2010. The adoption of the multi-currency regime along with the tightening of fiscal policy stance through the implementation of a cash-based budget system has helped Zimbabwe to bring down inflation to the commendable level of by end-April 2011. In the medium term, Zimbabwe’s prospects and performance will be largely determined by political developments and how these impact the economy. Key reforms aimed at addressing external. | CONGRESSIONAL HEẠimĂRẺ CAUCUS i I I I I I I mill 111 mill New Medicare Tax on Unearned Net Investment Income Net investment income- Income received from investment assets such as bonds stocks mutual funds loans and other investments Capital gain- When a capital asset is sold the difference between the basis in the asset and the amount it is sold for or a capital loss if it is sold for less Basis- the cost of an asset which includes the purchase price shopping installation and other services associated with the asset Adjusted gross income AGI - measure of income used to determine how much of your income is taxable and is calculated as your gross income from taxable sources minus allowable deductions such as unreimbursed business expenses medical expenses alimony and deductible retirement plan contributions. You have a capital gain if you sell the asset for more than your basis. You have a capital loss if you sell the asset for less than your basis. Where is the tax found and when will it take effect Section 1402 of the Health Care and Reconciliation Act of 2010 which amends the Patient Protections and Affordable Care Act outlines the new unearned income Medicare tax and goes into effect January 1 2013. Who is subject to this tax Taxpayers with incomes or an adjustable gross income AGI over 200 000 who file individually or 250 000 for married couples filing jointly could be subject to this tax. The provision imposes a percent tax identical to the combined employer employee tax rates on earned income on income from interest dividends annuities royalties and rents which are not derived in the ordinary course of trade or business excluding active S corporation or partnership income. Gross income does not include items such as interest on tax-exempt bonds veterans benefits which are excluded from gross income under the income tax. If capital gains on a primary home sale exceed 250 000 for individuals or 500 000 for a married couple and the income threshold is

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