FSA personnel told me-----------greater than 750K net farm income, and greater than 500K non-farm income. I asked specifically the question of whether or not that was a "modified adjusted gross income"-------ie "modified" from the "standard" AGI that is on 1040..........they said it was not a recalculated, modified adjusted gross. I said--------and therefore, if a guy has a NET farm income of 850,000.......and takes a 150,000 Section 179 expense.........dropping the NET farm income to 700K, then there is no limitations-------------person said that I was correct------no limitations. If I were approaching those limits..........I would be reading the law, or getting a letter from FSA describing exactly my situation, before I relied on the "hearsay". For example...........USUALLY......when a reference is made to a document other than the FSA document, there is a modifying calculation..........so I would wonder if there is not further delineation if using tax return data. |