You are correct. The definition of modified adjusted gross income (MAGI) is shown below.
Review your entries and then also use Preview My 1040 to view the adjusted gross income.
Using the Tax Tools: To find Tools:
- Sign into your TurboTax account and open or continue your return.
- Select Tax Tools in the left menu.
- You'll find Tools beneath Tax Tools.
- Select View Tax Summary
- Select Preview My 1040 (left black panel)
For TurboTax CD/Download simply click Forms in the upper right.
The figure used to determine eligibility for premium tax credits and other savings for Marketplace health insurance plans and for Medicaid and the Children's Health Insurance Program (CHIP). MAGI is adjusted gross income (AGI) plus these, if any: untaxed foreign income, non-taxable Social Security benefits, and tax-exempt interest.
- For many people, MAGI is identical or very close to adjusted gross income.
- MAGI doesn’t include Supplemental Security Income (SSI).
- MAGI does not appear as a line on your tax return.
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