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New to Tax Strategies?
Read our Complete Tax Strategies Guide →Hello,
Is tip income that qualifies under the new tax bill considered above the line or below the line?
ChatGPT, Copilot, and Gemini says it's above the line while Perplexity says it's below the line.
I haven't found a clear answer going to the IRS.
Thanks
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Amy B
74 XP8 months ago
it's below the line. No tax on tips/overtime use MAGI in order to calculate. The deductions are claimed on Schedule 1a. Above the line are before AGI is calculated. Below the line is after AGI. I've taken a snippet to show where the deduction is. The bottom of page 1 is AGI, the bottom screenshot is where 1a deductions are taken.
PizzaFiGuy
64 XP8 months ago
Thank you
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