Modified Adjusted Gross Income

Modified Adjusted Gross Income

Modified Adjusted Gross Income means:
the amount of a taxpayer's Adjusted Gross Income from Federal Former Federal Tax Form (check here if the Form is current) 1040, without certain income/deductions that are normally included/deducted. All tax-exempt interest income is included. Modified Adjusted Gross Income is used to determine whether a Social Security recipient who has other income is required to pay tax on Social Security income. Up to 85% of Social Security income is taxable for couples with MAGIs above $44,000 (for singles, $34,000). IRC (check if this IRC provision is current here) §86(b)(2).

See Tax Forms in the Encyclopedia.


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