My son, claimed as my dependent, filed his own return. When asked for his MAGI (found on his 1040 by adding line 2a with line 8b) there aren't any numbers on those line?

Forum|Forum|5 years ago
March 1, 2021
4 replies
18 views

Would that mean I don't have to include his income?

TurboTax Self Employed Online

DoninGA

Level 15

You do NOT enter a dependent's earned income from wages reported on a W-2 or their income from self-employment on your tax return. The dependent can file their own tax return and indicate on their return that they can be claimed as a dependent.

M

missieconroyAuthor

Level 2

This is from the health care section with form 1095A. I'm asked if I have a dependant who filed a separate return, when I check yes it then asks me for his MAGI. The instructions for finding his MAGI

"To calculate your dependent child's modified adjusted gross income (MAGI), you'll need to access their completed 2020 tax return. If you have not filed your dependent child's tax return, you'll need to do that to do the calculation.

If your dependent child filed their tax return with TurboTax, they can sign into their account to access their 2020 tax return.

Your dependent child's MAGI can be calculated by adding any amount reported on Form 1040 lines 2a to the amount on line 8b. Although it's not common, if they claimed foreign earned income exclusion, housing exclusion, or housing deduction, add the amount from form 2555, lines 45 and 50, or form 2555-EZ, line 18 to the amount on line 8b. Finally, if they have received Social Security income, add the difference between lines 5a and 5b to the amount on line 8b."

He doesn't have any amount in line 2a or 8b.

G

gloriah5200

Level 10

If 2a and 8b are blank, then his MAGI would be 0, the addition of the two lines.

S

SweetieJean

Alumni - Champ

Why does he need his MAGI? Or was it the 2019 AGI that's needed to efile 2020?

What type of 2020 income did he have?

M

missieconroyAuthor

Level 2

@SweetieJean

This is from the health care section with form 1095A. I'm asked if I have a dependant who filed a separate return, when I check yes it then asks me for his MAGI. The instructions for finding his MAGI

"To calculate your dependent child's modified adjusted gross income (MAGI), you'll need to access their completed 2020 tax return. If you have not filed your dependent child's tax return, you'll need to do that to do the calculation.

If your dependent child filed their tax return with TurboTax, they can sign into their account to access their 2020 tax return.

Your dependent child's MAGI can be calculated by adding any amount reported on Form 1040 lines 2a to the amount on line 8b. Although it's not common, if they claimed foreign earned income exclusion, housing exclusion, or housing deduction, add the amount from form 2555, lines 45 and 50, or form 2555-EZ, line 18 to the amount on line 8b. Finally, if they have received Social Security income, add the difference between lines 5a and 5b to the amount on line 8b."

He doesn't have any amount in line 2a or 8b.

MaryM428

Level 11

Take the amount on Line 11 of the 1040 and then add any of the credits listed below. The result is the MAGI.

To calculate your modified adjusted gross income, take your AGI and "add-back" certain deductions. Many of these deductions are rare, so it's possible your AGI and MAGI can be identical. Different credit and deductions can have differing add-backs for your MAGI calculation. According to the IRS, your MAGI is your AGI with the addition of the appropriate deductions, potentially including:

Student loan interest
One-half of self-employment tax
Qualified tuition expenses
Tuition and fees deduction
Passive loss or passive income
IRA contributions
Non-taxable social security payments
The exclusion for income from U.S. savings bonds
Foreign earned income exclusion
Foreign housing exclusion or deduction
The exclusion under 137 for adoption expenses
Rental losses
Any overall loss from a publicly traded partnership

S

sdw10000010

Level 2

I have had this problem for the past two years----Turbo tax did not update the #s on the forms---so you can calculate this yourself---I think the tax expert at the bottom is correct----Come on Turbo tax fix this description of how to calculate dependents MAGI!

T

Tileworks

Level 2

The current description is for a previous tax year and hasn't been updated. It should read "by adding line 2a to line 9".

In the 2019 tax year, line 8b was the adjusted gross income. For 2020 however, this is line 9. TurboTax failed to update the description accordingly.