LeonardS
Expert Alumni

Deductions & credits

Yes, the IRS also considers your Modified Adjusted Gross Income (MAGI) when calculating your Premium Tax Credit (PTC) 

 

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).

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