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What income is counted. The Marketplace uses an income number called modified adjusted gross income (MAGI) to determine eligibility for savings. It's not line on your tax return. See what's included

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What is modified adjusted gross income?

Modified adjusted gross income (MAGI) is a measure used by the IRS to determine if a taxpayer is eligible for certain tax deductions, credits, and retirement accounts.

Who is required to file modified adjusted gross income?

Taxpayers who have income that exceeds certain thresholds or who are claiming certain tax benefits may be required to report their modified adjusted gross income.

How to fill out modified adjusted gross income?

To calculate modified adjusted gross income, start with the adjusted gross income from your tax return and then make certain adjustments based on specific IRS rules and guidelines.

What is the purpose of modified adjusted gross income?

The purpose of modified adjusted gross income is to determine eligibility for various tax deductions, credits, and benefits.

What information must be reported on modified adjusted gross income?

Income sources such as wages, salaries, tips, business income, rental income, and investment income must be reported on modified adjusted gross income.

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