turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

ThorSD
New Member

TY2025 Schedule 1-A is wrong

Part 1 MAGI amount is wrong on Line 3, as Tax Exempt Interest (from Form 1040 Line 2A) is NOT INCLUDED so it using AGI amount.

 

Thus Part V, Enhanced Deduction for Seniors line 31 is using AGI amount, rather than MAGI amount as required by the IRS, and incorrectly calculating line 37.

 

When will this be fixed for the desktop version.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
rjs
Level 15
Level 15

TY2025 Schedule 1-A is wrong

There is nothing that needs to be fixed. The calculation is correct. MAGI is calculated differently for different purposes. There are over a dozen different definitions of MAGI, depending on what it's being used for. For the deductions on Schedule 1-A, including the deduction for seniors, MAGI is Adjusted Gross Income (AGI) plus the Foreign Earned Income Exclusion, Foreign Housing Exclusion or Deduction, and excluded income from sources in Puerto Rico, Guam, American Samoa, and the Northern Mariana Islands. Tax-exempt interest is not added. For most people MAGI will be the same as AGI.

 

TY2025 Schedule 1-A is wrong

See Schedule 1-A top lines 1-3 to figure the MAGI for Schedule 1-A

https://www.irs.gov/pub/irs-pdf/f1040s1a.pdf

 

SS 6000 AGI.jpg

TY2025 Schedule 1-A is wrong

 

 

@ThorSD  that 2a is line 2a on the Schedule 1-A not 2a on the 1040

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question