What is  the “bottom Line” or  #MAGI Modified Adjusted Gross Income 
that one should put down for Covered CA Income?

More information on MAGI Definition

• 1040 IRS Annual Tax Form 
  • Schedule 1  Additional Income & Adjustments to Lower your  MAGI Income
    • IRA Retirement 
    • Health Savings Account 
    • Trumps Big Beautiful Bill – may lower line 6 A  Social Security Income Learn More >>>  Newsweek *  PBS *
  • Estimate next years MAGI Income?
    • Steve’s Video on MAGI Income
  • Get instant quotes, subsidy calculation and coverages
  • NO ASSET TEST for MAGI based subsidies in Covered CA or MAGI Medi Cal Qualification. Steve’s   VIDEO 
    • Nor is there a lien against your estate for Covered CA or MAGI Medi Cal

• Modified Adjusted Gross Income  (MAGI) (2) … means

  adjusted gross income – Line 11 of the 1040 Form *    ^{Health Care.Gov * 26 USC §62 *} 

  *Plus +

  (i) Amounts excluded from gross income under IRC §911 * Foreign Exempted * IRS Form 2555  * CFR   1.36 B – 1 *

  (ii) Tax-exempt interest  ^{[IRS Coursework] [Form 8815 * Interest Income  * Investing Answers.com]}  the taxpayer receives or accrues during the taxable year; and

  (iii) some Social Security Benefits  ^{Western Poverty & Law Explanation of MAGI  ♦  (UC Berkely One Page Summary) ♦   CFR 1.36 B 1  * IRS Publication 974 ♦ George Town.edu}

  Get even more details & definitions of MAGI Income

Contact Us - Ask Questions - Get More Information
[email protected] 

By submitting the information below , you are agreeing to be contacted by Steve Shorr a Licensed Sales Agent by email, texting or Zoom to discuss Medicare or other Insurance Plans as relevant to your inquiry. This is a solicitation for Insurance

#Adjustments to Income - Schedule 1

#Schedule1 1040

• Part I Additional Income
  • 2a Alimony received
  • 3 Business income or (loss). Attach Schedule C
  •           Get Health Quote for your business
  • 5 Rental real estate, royalties, partnerships, S corporations, trusts, etc. Attach Schedule E
  • 7 Unemployment compensation
  • 8 Other income:
    • a Net operating loss
    • b Gambling income
    • c Cancellation of debt
    • d Foreign earned income exclusion from Form 2555
    • e Taxable Health Savings Account distribution
      • Get an instant quote for qualifying HDHP health insurance plans 
• Part II Adjustments to Income
  • 11 Educator expenses
  • 13 Health savings account deduction. Attach Form 8889
    • Get an instant quote for qualifying HDHP health insurance plans 
  • 15 Deductible part of self-employment tax. Attach Schedule SE
  •         Learn more about your Social Security Benefits
  • 16 Self-employed SEP, SIMPLE, and qualified plans -
    • Learn more and get a plan set up
  • 17 Self-employed health insurance deduction
    • Get Employer Group Quote - must have at least one non spousal employee
  • 19a Alimony paid
  • 20 IRA Individual Retirement Account deduction 
    • Learn more and get a plan set up
  • 21 Student loan interest deduction
• Instant Business Health Insurance Proposals 

Details… of MAGI 

#Household.income means ^{Code of FEDERAL Regulations – IRS Income Taxes – 1.36B 1 – (e) …(1)} … the sum of—

(i) A taxpayer’s modified adjusted gross income; (Line 37 Line 11  1040)  plus 

(ii) The aggregate modified adjusted gross income of all other individuals who—

          (A) Are included in the taxpayer’s family under paragraph (d) [below] of this section; and

          (B) Are required to file a return of tax imposed by section 1 for the taxable year (determined without regard to the exception under section (1)(g)(7) to the requirement to file a return). ^{[26 USC §6012  ♦ IRS tool to see if you must file a return  ♦  Medi-Cal Household Size Flow Chart ♦ Blog – Insure Me Kevin.com] DHCS *} 

(f) Dependent has the same meaning as in section §152.   ^{*  IRS Interactive Assistant *} 

(d) … A taxpayer’s family means the individuals for whom a taxpayer properly claims a deduction for a personal exemption under section 151 for the taxable year.

Family size [Medi-Cal Household Size Flow Chart ♦ Blog – Insure Me Kevin.com] means the number of individuals in the family. Family and family size may include individuals who are not subject to or are exempt from the penalty [mandate] under  §5000 A  (f)  (1) for failing to maintain minimum essential coverage.  ^{Health Care.gov explanation} *

      Count income & household size  Who to include in your household  Tax filer + spouse + tax dependents = household         Healthcare.Gov 

 26 USC § 151 – Allowance of deductions for personal exemptions  pdf

(a) Allowance of deductions
In the case of an individual, the exemptions provided by this section shall be allowed as deductions in computing taxable income.

To be more clear  —  (2) Married taxpayers must file joint return. A taxpayer who is married (within the meaning of section 7703) at the close of the taxable year is an applicable taxpayer only if the taxpayer and the taxpayer’s spouse file a joint return for the taxable year. GPO.Gov Final Regulations Page 11   *   Turbo Tax Calculator  *  Tax Policy Center…..  Joint or separate?  * Estranged Spouse?

Premium Tax Credit Form 8962   &    Instructions

Get a Free No Obligation Calculation of your Tax Credit, Premiums and see the benefit brochures.

View other pages & resources in this section…

• Getting MAGI Right – 23 page primer by George Town University on differences that apply to Medicaid (Medi-Cal) and CHIP  Children’s Health Insurance Program    Insure Kids now CA
• Power Point presentation CMS Income Counting MAGI
• InsureMeKevin.com analysis
  • See also this article on Kevin’s site
• If you would like to talk to a professional tax adviser about this try Bruce Bialosky  [email protected]  310.273.8250
• Agent Training – MAGI and APTC PowerPoint Presentation