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Level 1
March 4, 2020
Solved

Is (MAGI) the same as (AGI)?

  • March 4, 2020
  • 1 reply
  • 0 views
I am imputing information from a 1095-A form and it is asking for my dependent’s MAGI for 2019 but I can only find the AGI
Best answer by AlanT222

Your MAGI (Modified Adjusted Gross Income) is your AGI with the addition of the following deductions, if applicable:

  • Student loan interest
  • One-half of self-employment tax
  • Qualified tuition expenses
  • Tuition and fees deduction
  • Passive loss or passive income
  • IRA contributions, 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

1 reply

AlanT222Answer
Level 15
March 5, 2020

Your MAGI (Modified Adjusted Gross Income) is your AGI with the addition of the following deductions, if applicable:

  • Student loan interest
  • One-half of self-employment tax
  • Qualified tuition expenses
  • Tuition and fees deduction
  • Passive loss or passive income
  • IRA contributions, 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
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