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New Member
posted Jun 6, 2019 10:36:50 AM

How can I find out where MAGI on 8962 is being calculated?

According to the instructions for form 8962 MAGI includes interest on tax exempt income. However, I do not see any tax exempt interest on any 1099-INT.

MAGI Worksheet is lower (same as AGI) than MAGI on 8962

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1 Best answer
Expert Alumni
Jun 6, 2019 10:36:52 AM

To check the MAGI calculation in TurboTax for Windows CD/Download,

  • Change to forms mode by clicking on the paper icon Forms, in the upper right, in the blue
  • Then look for Form 8962 along the left, and click on it to display it on the right. 
  • Move your mouse over the entry field for line 2a and when it highlights, right click on it and
  • Click on Data Source
  • This will show what is being included and if you click on the blue links it will take you to the part of the return where the information originates
  • When you are finished, click on Step-by-Step, in the upper right with the icon of the 1 2 circles, will take you back to the interview mode.

If you file Form 1040, your MAGI is calculated by adding the amounts reported on Form 1040, lines 8b and 37. If you claimed the foreign earned income exclusion, housing exclusion, or housing deduction, add the amounts from Form 2555, lines 45 and 50, or Form 2555-EZ, line 18. If your dependent has a filing requirement, but you elect to report the dependent's income on Form 8814, include the dependent's MAGI in the household income by adding Form 8814, line 1b, and the smaller of Form 8814, line 4 or 5.




4 Replies
Expert Alumni
Jun 6, 2019 10:36:52 AM

To check the MAGI calculation in TurboTax for Windows CD/Download,

  • Change to forms mode by clicking on the paper icon Forms, in the upper right, in the blue
  • Then look for Form 8962 along the left, and click on it to display it on the right. 
  • Move your mouse over the entry field for line 2a and when it highlights, right click on it and
  • Click on Data Source
  • This will show what is being included and if you click on the blue links it will take you to the part of the return where the information originates
  • When you are finished, click on Step-by-Step, in the upper right with the icon of the 1 2 circles, will take you back to the interview mode.

If you file Form 1040, your MAGI is calculated by adding the amounts reported on Form 1040, lines 8b and 37. If you claimed the foreign earned income exclusion, housing exclusion, or housing deduction, add the amounts from Form 2555, lines 45 and 50, or Form 2555-EZ, line 18. If your dependent has a filing requirement, but you elect to report the dependent's income on Form 8814, include the dependent's MAGI in the household income by adding Form 8814, line 1b, and the smaller of Form 8814, line 4 or 5.




New Member
Jun 6, 2019 10:36:54 AM

Thank you! Right Click to get to data source is very useful. Now I just need to deal with the fact I am $90 over the MAGI limit for my PTC. Ouch.

Level 9
Jun 6, 2019 10:36:55 AM

Do you qualify to contribute to a deductible Traditional IRA?  If so, that is the easiest way to 'lower' your MAGI.

New Member
Jun 6, 2019 10:36:57 AM

Since I file my  Send site filed my taxes with you can you help me fill the sout