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For the purpose of determine the Medicare premium, your MAGI is your total adjusted gross income and tax-exempt interest income. See Social Security form SSA-44, Step 3 – Modified Adjusted Gross Income
you also need to calc your MAGI to determine what your future Medicare payment IRMAA will be.
It is based upon your previous 2yr amount of your MAGI -
In our case, the MAGI is our AGI plus our tax-exempt muni interest ... giving the MAGI calc
I want to second what a previous post said. I am disappointed that Turbo Tax does not show the calculate MAGI. It is an important value that they must have. Seems like a small feature that would bring value.
Cheers,
G
Here's details on Calculating AGI/MAGI.
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