What MAIN HOME means: See "principal residence," defined elsewhere in this glossary.
- Definition Modified Accelerated Cost Recovery System (MACRS):
- Dictionary depreciation system used for most property placed in service after December 31, 1986. But ACRS (see Accelerated Cost Recovery System) must be used for certain property acquired from a related party main home definition.
- Definition Modified AGI (MAGI):
- Dictionary gross income (MAGI) is a figure used to figure the limit on an exclusion or deduction allowed in computing adjusted gross income. Depending on the item for which MAGI is being computed, certain items main home explain.
- Definition Medicare Wages:
- Dictionary Total wages paid to an employee that are subject to Medicare tax. This amount doesn't include tips, which are reported separately main home what is.
- Definition Married Filing Jointly:
- Dictionary that can be used by taxpayers who are married at the end of the tax year and not legally separated under a final decree of divorce or separate maintenance. The income, deductions, and credits of both main home meaning.
How works Main Home meaning in Tax definitions M .
