vp.wiz said: I've taken to heart Jean's recent advice to report total w-2g's as gross winnings, and back into an appropriate loss number that gets to your actual net win.
I agree.
My question was a bit different since I, maybe mistakenly, was reading in some comments that one could, using the "session method", put less than one's W2-G total on line 21. I do not see how one can do that without raising the "attention" of the IRS.
It is line 21 that puts the Medicare premium effect into place for the VP winner who is subject to Medicare premiums. Line 21 affects one's MAGI, even though one's actual losses might exceed one's winnings. The losses are entered as "deductions" on Schedule B and have no effect on one's MAGI.
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Posted by: bornloser1537@yahoo.com
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