People keep asking this question and the responses they get tell them just how to calculate it themselves and not telling them EXACTLY what form in TT that number can be found without having to do any manual calculations. I have printed out my entire 2022 tax return and can find no worksheet that shows it. I just want to see our MAGI in black and white without knowing how to calculate it.
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@jimchi again, the expression MAGI has a number of different definitions in IRSland..... what are you wanting to use MAGI for? until that is known, it's hard to answer your question.
if you are trying to determine your IRMAA limit MAGI is simply AGI plus tax exempt interest
depending on what you are asking about MAGI can be different. It is not shown on the return. however, for many taxpayers adjusted gross income (AGI) and MAGI are the same because MAGI starts off with AGI, then, depending on what is being calculated, there can be adjustments to AGI. if there are none of these items then MAGI=AGI.
All I need to know is if the non-taxable part of my regular (old age retirement) Social Security (not SSI or SSDI) is included in my MAGI. Does TT Deluxe 2022 show that someplace? Thanks.
As answered above it depends what you need the MAGI for. There are different MAGI. And your return won't show MAGI.
@jimchi again, the expression MAGI has a number of different definitions in IRSland..... what are you wanting to use MAGI for? until that is known, it's hard to answer your question.
if you are trying to determine your IRMAA limit MAGI is simply AGI plus tax exempt interest
Thank you. That's what I needed. Just wish TT would show it but maybe MAGI applies only in very select situations. Thanks again.
@jimchi understand that your 2022 MAGI will define your 2024 IRMAA charge
great website on the IRMAA topic:
https://thefinancebuff.com/medicare-irmaa-income-brackets.html
Thanks SO much, It was really difficult finding an answer to this question. Thanks again !
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