- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Thanks, it indeed does that. I wondered why this was the case and dug a little more. Unfortunately it looks like the IRS define MAGI differently for different purposes; the sheet in TT is for form 8582 (does not include passive rental income). I was interested in it for Roth IRA purposes; Pub 590A defines it including passive rental income. Form 8960 instructions define it yet a third way, including passive rental income but with a different set of subtractions. It would be nice if they defined it one way for all uses, or used a different name when it's calculated differently.
‎July 22, 2023
11:48 AM