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The MAGI for Medicaid is $16,242. My income was $22,568.46. Can I contribute to a Traditional IRA to reduce my income to meet the medicaid MAGI requirement?
I'm not totally sure how the MAGI is calculated. For Example I have dividends (1099-DIV) that have created a cash balance of $918.82 over the last 2 years (not just 2016), and I don't know if that's included as income for the MAGI.
Here is the breakdown of the sources of my income:
W2 $ 19,962
Tax Refunds $? 186
1099-INT $? 16
1099-DIV $? 1,860
HSA Dist. $? 544
Total $? 22,568
I realize that the contribution limit for an traditional IRA is $5,500. I guess I'm hoping some of this income doesn't count toward the MAGI. Please help!
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‎June 6, 2019
3:36 AM