The result is your taxable income.7 Where to Find Your Adjusted Gross Income (AGI) You report your AGI on line 11 of IRS Form 1040, the form you use to file your income taxes for the year.6 Keep that number handy after completing your taxes because you'll need it again if you e...
Earnings stripping is legal through the tax code. Still, the U.S. government has sought to prevent it by instituting a variety of regulations, such as incorporating debt-to-equity and net interest expense into adjustable income ratio thresholds. Understanding Earnings Stripping Earnings stripping is...
The term mortgage interest is theinterestcharged on aloanused to purchase a piece of property. The amount of interest owed is calculated as a percentage of the total amount of the mortgage issued by the lender. Mortgage interest may be either fixed or variable. The majority of a borrower's ...