Respond to the following independent situations:

a. Masa and Haiming, husband and wife, filing jointly, earn $259,000 in salaries and do not have any net investment income.

b. Masa and Haiming, husband and wife, filing jointly, earn $259,000 in salaries and $46,000 in capital gains, $46,000 in dividends, and $23,000 in savings interest for a total MAGI of $307,000.

c. Masa and Haiming, husband and wife, filing jointly, earn $259,000 in salaries and $46,000 in capital gains for a total MAGI of $361,000.

How much in surtax will Masa and Halming be assessed on their Form 1040 for 2016?

Answer rating: 100% (QA)

a Surtax is charged on Net Investment Income Since Masa an Haiming do not ha... View the full answer