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Level 2
posted Feb 12, 2021 11:59:19 AM

Determing a Child's MAGI

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.

 

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2 Replies
Not applicable
Feb 27, 2021 9:48:42 AM

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

Expert Alumni
Mar 1, 2021 2:48:23 PM

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