Filing 2022 return with 1040-SR. Can I calculate modified AGI by adding line 10, (schedule 1, line 26) to line 11 (adjusted gross income)?

[Katherine S 63]

Hello, 

Interesting questions!!

Are you trying to paper file your return and not use software?  The software will do all this for you.

If not, 1040SR (2022) has you total all of your income line 1-8.  That total will go into Line 9.  Then you will take an adjustments from Schedule 1, line 26 and put those on Line 10.  Adjusted gross income will be Line 9+10 which will go on Line 11.  

As far as Modified AGI: Your MAGI (modified adjusted gross income) is your AGI plus certain deductions you must “add back.” These deductions include IRA contributions, student loan interest, one-half of self-employment tax, qualified tuition expenses, and more.

Please give me a thumbs up if this was helpful.

Katie S.

[DoninGA]

MAGI (Modified Adjusted Gross Income) is used for different reasons on a federal tax return and can include much more than what you have described.

See this TurboTax Tax Tip Guide - https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-the-difference-between-agi-and-magi-on-y...

What exactly are you trying to determine?

[rjs]

Modified AGI for what purpose? Modified AGI (MAGI) is not one specific amount. There are about a dozen different ways to calculate modified AGI depending on what it is being used for. The basic idea is the same, but what specific things you have to add back, or subtract, depends on what you are using the modified AGI for. So why are you asking how to calculate your modified AGI? What do you need it for?

[Mike9241]

MAGI is not one amount. It varies depending on what you are working on.  

[SteamTrain]

OK, just a guess at this point since you didn't say "What For" yet, and since you are filing a 1040SR

...IF...if wanting to know MAGI for IRMAA purposes?  (Medicare part B and Part D premium payments).

MAGI for that purpose is Line 11 plus line 2a of your form 1040 or 1040SR.

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Thing is, if you have not actually filed your 2022 taxes yet (you're really late), I'm not sure whether SS/Medicare will use your 2022 MAGI or your 2021 MAGI to calculate your IRMAA premiums for 2024, since they normally would use your 2022 MAGI.

....but they don't know that 2022 value yet, and they are setting up their payments for 2024 right now..