topic How is schedule 1 capital gains used for calculating modified AGI? in Investors & landlords

How is schedule 1 capital gains used for calculating modified AGI?

fpierrat — Sat, 16 Nov 2019 15:49:57 GMT

Re: How is schedule 1 capital gains used for calculating modified AGI?

TomYoung — Sat, 16 Nov 2019 17:24:01 GMT

Modified AGI starts with your Adjusted Gross Income and then adds back certain deductions and other items. Your Adjusted Gross Income includes the income on Schedule 1, including the capital gains. There's no adjustment of those capital gains in calculating Modified AGI.

Re: How is schedule 1 capital gains used for calculating modified AGI?

Hal_Al — Sun, 17 Nov 2019 00:59:59 GMT

Capital gains are included in AGI. Capital gains (line 14 of Schedule 1) are included in the total additional income on line 22 of schedule 1, then transferred to line 6 of form 1040. Note that the total of lines 1 thru 6 of form 1040 constitute your AGI.

Capital gain are not used in calculating modified AGI (MAGI). There are actually several different MAGIs, depending on which tax attribute is being calculated.