How do I find out what my modified adjusted gross income is for this year? It doesn't seem right on my Turbo Tax form.
In order to calculate your Modified Adjusted Gross Income (MAGI), you will begin with your Adjusted Gross Income (AGI)from your Tax Return: Form 1040 Line 37, Form 1040A Line 21, or Form 1040EZ Line 4.
To view your Tax Return before filing, login to your return and go to Tax Tools>>Tools>>View Tax Summary.
Next, you will add the following things to your AGI in order to come up with your MAGI :
Student loan interest
One-half of self-employment tax
Passive loss or passive income
IRA contributions, taxable social security payments
The exclusion for income from U.S. savings bonds
The exclusion under 137 for adoption expenses
Any overall loss from a publicly traded partnership
If you don't have any of the above items, then your MAGI will simply be the same as your AGI.