Is Modified Adjusted Gross Income (MAGI) always calculated the same?
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William Keats
MAGI begins with W-2 wages, taxable interest income, taxable dividend income, state tax refund from prior year (if taxable), alimony (if any), business income or loss, cap gain or loss, other gains or losses, IRA distributions, pensions and annuities, rental income or loss, S-corp. income/loss, partnership income/loss, unemployment, taxable social security, if any, and other income. These are the items that make up the Modified Adjusted Gross Income.
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555 weeks ago