This paper proposes a practical throughput upper bound that considers physical layer techniques using adaptive modulation and coding (AMC) for orthogonal frequency division multiplexing (OFDM) multiple-input multiple-output (MIMO) multiplexing. The proposed upper bound is computed from the modulation and coding scheme (MCS) that provides the maximum throughput considering the required block error rate (BLER) at the respective received signal-to-noise power ratios as a constraint. Then, based on the practical throughput upper bound, we present the causes of impairment for selecting the best MCS based on the computed mutual information for OFDM MIMO multiplexing. More specifically, through the evaluations, we investigate the effect of MCS selection error on an increasing maximum Doppler frequency due to the round trip delay time and the effect of channel estimation error of maximum likelihood detection associated with reference signal based channel estimation.