topic Re: AGI vs MAGI in Get your taxes done using TurboTax

AGI vs MAGI

ThomasHansenDK — Mon, 03 Feb 2025 19:34:02 GMT

I deleted my W2 income from my 2024 tax return to estimate my MAGI in retirement (I also have some (qualified) dividend, interest, cap gain & schedule E income). Now my MAGI is smaller than AGI (yes, MAGI << AGI). How is this remotely possible? What did I do wrong? What should I check (assuming there is no bug in TurboTax)?

Re: AGI vs MAGI

Mike9241 — Mon, 03 Feb 2025 19:39:55 GMT

for different items on your return, there are different rules for how MAGI is computed. for what purpose do you want to know what your MAGI might be?

Re: AGI vs MAGI

ThomasHansenDK — Thu, 06 Feb 2025 22:08:58 GMT

Yes!

But how can my Magi be less than my AGI?

Re: AGI vs MAGI

dmertz — Fri, 07 Feb 2025 14:48:12 GMT

MAGI for what purpose? There are dozens of different ways to modify AGI for different purposes.

Re: AGI vs MAGI

ThomasHansenDK — Fri, 07 Feb 2025 17:42:26 GMT

@Mike9241 Medicare

Re: AGI vs MAGI

dmertz — Fri, 07 Feb 2025 17:50:05 GMT

TurboTax does not calculate MAGI for the purpose of Medicare IRMAA. You must do that yourself. All of the different MAGI's calculated by TurboTax are for purposes other than Medicare IRMAA.