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Question

Determing a Child's MAGI

Forum|Forum|5 years ago
February 12, 2021
2 replies
55 views

How do I find the MAGI for a child? The popup says "Your dependent child's MAGI can be calculated by adding any amount reported on Form 1040 lines 2a to the amount on line 8b". How do you do find the MAGI e=when there is nothing on line 2a and no line 8b on form 1040. Many thanks for any assistance.

A

Anonymous

I'm having the same issue. There is no line 8b.

Alumni - Intuit

To calculate your child's modified adjusted gross income(MAGI), take your AGI and "add-back" certain deductions. Many of these deductions are rare, so it's possible your AGI and MAGI can be identical. Different credit and deductions can have differing add-backs for your MAGI calculation. 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
IRS 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

The 2020 AGI is reported on form 1040 line 11

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