No. of Recommendations: 1
Ya. The M om MAGI = Modified
AI
How to Calculate MAGI
MAGI is not a line item on your tax return and must be calculated manually, starting with your AGI from Form 1040, line 11. The specific items you add back to your AGI depend on the tax benefit for which you are applying.
Common items to add back to AGI to determine your MAGI include:
Non-taxable Social Security benefits
Tax-exempt interest (e.g., from municipal bonds)
Excluded foreign earned income and housing deductions
Deductions for student loan interest
IRA contributions (in some cases)
For many people, AGI and MAGI are identical or very close. END
Well, I'm not resentful if someone else gets a benefit. For my FEPblue, the Fed keeps paying the portion they would pay as if I'm an active employee. I EARNED that. 😊 It was part of my package. 😛 It doesn't bother me at all if someone else, who didn't have that in their package, gets some help. No sourpuss here. Help them. I would like someone to make some explanatory graphs, but Loren Cobb isn't around. Did he pass?
Anyone know?
