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Bug in modified agi worksheet re: rental income

The Modified AGI worksheet, 7th line, is "Royalty and nonpassive rental activities income or loss".  This should have taxable income from rental property, carried from the Schedule E worksheet (as indicated by 'data source').  However, no value is being carried over, the field is blank.  As a result the MAGI is undercalculated, and differs, for example, with what you get if calculating it using the worksheet in IRS Pub 590A.

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Bug in modified agi worksheet re: rental income

Note: The sum of all Nonpassive Schedule E Regular Tax Profit (loss) excluding any rental real estate loss allowed to real estate professional. The following listing will include both Nonpassive and Passive Schedule(s) E.


If you check the Other passive exceptions box on the Schedule E Worksheet, the line on the MAGI Worksheet will populate.



New Member

Bug in modified agi worksheet re: rental income

Thanks, it indeed does that.  I wondered why this was the case and dug a little more.  Unfortunately it looks like the IRS define MAGI differently for different purposes; the sheet in TT is for form 8582 (does not include passive rental income).  I was interested in it for Roth IRA purposes; Pub 590A defines it including passive rental income.  Form 8960 instructions define it yet a third way, including passive rental income but with a different set of subtractions. It would be nice if they defined it one way for all uses, or used a different name when it's calculated differently.

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