MAGI

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Modified Adjusted Gross Income (MAGI) is a calculation that starts with one's Adjusted Gross Income and then applies various modifications to that amount.

There are multiple versions of MAGI, and one should take care to use the applicable modifications.

MAGI for Affordable Care Act purposes

See "What to include as income". See what’s included in MAGI and how to estimate it: HealthCare.gov. 2019. https://www.healthcare.gov/income-and-household-information/income/#magi.

MAGI for child tax credit / credit for other dependents

Child Tax Credit (CTC), Credit for Other dependents (ODC). See "Publication 17, Your Federal Income Tax". 33. Child Tax Credit/Credit for Other Dependents: Internal Revenue Service. Feb 08, 2019. https://www.irs.gov/publications/p17#en_US_2018_publink1000174526.

MAGI for education credit purposes

See "Education Credits: Questions and Answers". Q13. What is "modified adjusted gross income" for the purpose of the AOTC?: Internal Revenue Service. February 8, 2019. https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers.

MAGI for the FAFSA® form

FAFSA® (Free Application for Federal Student Aid) form. See "2018-2019 Application and Verification Guide: Filling Out the FAFSA". Chapter 2: Federal Student Aid (US Department of Education). August 2018. https://ifap.ed.gov/fsahandbook/attachments/1819FSAHbkAVGCh2.pdf.

MAGI for traditional IRA purposes

See "Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs)". Modified adjusted gross income (AGI).: Internal Revenue Service. 2018. https://www.irs.gov/publications/p590a#en_US_2018_publink1000230489.

MAGI for Roth IRA purposes

See "Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs)". Modified AGI.: Internal Revenue Service. 2018. https://www.irs.gov/publications/p590a#en_US_2018_publink1000230985.

MAGI for net investment income tax

See Form 8960 "Net Investment Income Tax—Individuals, Estates, and Trusts". Line 13—Modified Adjusted Gross Income (MAGI): Internal Revenue Service. 2018. https://www.irs.gov/instructions/i8960#idm140442618982224.

MAGI for premium tax credit

See "Questions and Answers on the Premium Tax Credit". 8. What is household income?: Internal Revenue Service. Feb 08, 2019. https://www.irs.gov/affordable-care-act/individuals-and-families/questions-and-answers-on-the-premium-tax-credit.

MAGI for rental passive loss allowance

See "Publication 925, Passive Activity and At-Risk Rules". Phaseout rule.: Internal Revenue Service. 2018. https://www.irs.gov/publications/p925#en_US_2018_publink1000104575.

MAGI for student loan interest deductibility

See "Publication 970, Tax Benefits for Education". Modified adjusted gross income (MAGI).: Internal Revenue Service. 2018. https://www.irs.gov/publications/p970#en_US_2018_publink1000204395.

MAGI for Medicare premiums (IRMAA tiers)

This MAGI is defined in 42 U.S.C. 1395r(i)(4), from the Social Security Act §1839. It is adjusted gross income as shown on the tax return plus tax-exempt interest and tax-exempt foreign earned income and foreign housing cost. Page 2 of "Medicare Premiums: Rules For Higher-Income Beneficiaries". Social Security Administration. 2019. https://www.ssa.gov/pubs/EN-05-10536.pdf. mentions the tax-exempt interest but neglects to mention the necessary addition of the foreign items.

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