MAGI to avoid increase medicare premium

[cpo695]

Hello I am trying to figure out how to calculate my MAGI.  I understand that it is AGI plus added back deductions but the instructions seem very confusing.  for instance, one part says IRA contributions are added back another part says no, also two different sites I've been too say employer sponsored 401k contributions are and are not added back.  My concern is that if the MAGI rises above 205,000 our Medicare premiums increase significantly.

    thank you

[MayaD]

According to the IRS, your MAGI is your AGI with the addition of the appropriate deductions, potentially including:

• Student loan interest
• One-half of self-employment tax
• Qualified tuition expenses
• Tuition and fees deduction
• Passive loss or passive income
• IRA contributions
• Non-taxable social security payments
• The exclusion for income from U.S. savings bonds
• Foreign earned income exclusion
• Foreign housing exclusion or deduction
• The exclusion under 137 for adoption expenses
• Rental losses
• Any overall loss from a publicly traded partnership

You don't add back employer sponsored 401k contributions.

For more information, check: What Is the Difference Between AGI and MAGI on Your Taxes?

[dmertz]

MayaD's reply does not provide a useful answer to the question.

MAGI for the purpose of Medicare IRMAA is AGI plus tax-exempt interest, Form 1040 line 11 plus line 2a.