Elliot will use the single filing status. His modified adjusted gross income (MAGI) is $300,000. This includes $25,000 of capital gain income from the sale of stock and $100,000 of ordinary income from a partnership in which he actively participates. Assuming Elliot does not have any deductible expenses allocable to investment income.

What is the amount used to calculate his net investment income tax ?

Answer rating: 100% (QA)

In this case Elliot has two sources of investment income 1 Capital gain income from the sale o... View the full answer