How would the Phase-Out work in real world terms?
SINGLE, NO CHILDREN (filing alone – no children) Adjusted Gross Income Rebate amount $75,000 $600 $76,000 $550 $77,000 $500 $78,000 $450 $79,000 $400 $80,000 $350 $81,000 $300 $82,000 $250 $83,000 $200 $84,000 $150 $85,000 $100 $86,000 $50 $87,000 zero rebate MARRIED WITH 2 CHILDREN UNDER 17 Using this example of a married couple filing jointly with two children under the age of 17, it is easiest to calculate by thinking you have an $1800 rebate that phases out at the rate of $50 per $1000 over the joint income limit of $150,000. Adjusted Gross Income (Joint) Rebate amount $150,000 $1200 + $600 (for children) = $1,800 total rebate $151,000 $1150 + $600 = $1,750 $152,000 $1100 + $600 = $1700 $153,000 $1050 + $600 = $1650 $154,000 $1000 + $600 = $1600 $155,000 $950 + $600 = $1,550 $156,000 $900 + $600 = $1500 $157,000 $850 + $600 = $1450 $158,000 $800 + $600 = $1400 $159,000 $750 + $600 = $1350 $160,000 $700 + $600 = $1300 $161,000 $650 + $600 = $1250 $162,000 $600 + $600 = $1200 $163,00
