TurboTax Premier has an error in calculating Modified AGI ( MAGI )
MAGI is calculated using Worksheet 1-1 in the Instructions for Form 8962.
Line 1 of this Worksheet starts with the AGI, reported in Form 1040 Line 11.
Line 2 of this Worksheet adds tax-exempt interest income, reported in Form 1040 Line 2a.
In my case, I have no tax-exempt interest income, so Form 1040 Line 2a is $0
I have taxable interest income of $69, so Form 1040 Line 2b is $69
When I calculate my MAGI using this worksheet, I get $69 less than what TurboTax shows, which matches my taxable interest reported in Form 1040 Line 2b and is already included in my AGI reported in Form 1040 Line 11 and in Line 1 of the Worksheet.
TurboTax is incorrectly adding the taxable interest income to the MAGI – taxable income already included in the AGI.
