Modified Adjusted Gross Income and standard deduction / affordable care act cost sharing discount

[bliddil]

Is the standard deduction allowed when calculating the Modified Adjusted Gross Income for the purpose of calculating you Cost Sharing Discount for the Affordable Care Act?

Thanks,

b

[Bsch4477 · Accepted solution]

The figure used to determine eligibility for premium tax credits and other savings for Marketplace health insurance plans and for Medicaid and the Children's Health Insurance Program (CHIP). MAGI is adjusted gross income (AGI) plus these, if any: untaxed foreign income, non-taxable Social Security benefits, and tax-exempt interest.  You do not subtract your standard deduction.

[bliddil]

Thank you!

B