Table of Contents

 MAGI Income, Expenses or Deductions 

Just scroll down and visit the  page you need.

no index

More detail on Deductions from MAGI Income

[child-pages]

 

Calculate your  Covered CA MAGI Income

take #Line8b 11 Adjusted Gross income then add line 2a, 6a &   8 (Foreign Income)

 

MAGI Income from 1040

Karen F says:
My divorce agreement provides that my X Spouse must provide lifetime housing in one of their rental units or bedroom. More specifically – My ex-wife is providing me one room for my living space which values around $450 per month. She also allows me to use her car. Does that count as alimony even though it’s non cash? Does that count as income for Covered CA subsidies?
  • Steve S says:
    In the example on page 14 of IRS Publication 504 https://www.irs.gov/pub/irs-pdf/p504.pdf it says that it wouldn’t be alimony as it’s a home you own and the debts are yours. If you owned the home jointly with your spouse see page 15 table 4
    • Steve S says:
      Publication 504 is a 30 page document and refers one to other documents, including your actual separation agreement. Be sure to seek competent tax and legal counsel. Covered CA basically just goes by the definition of MAGI line 37 of your 1040 and not how your AGI is calculated.

6 comments on “Table of Contents -Income, Deductions & Expenses for MAGI no index

  1. I am trying to calculate my income to see if I am eligible for Medi-cal or what I can buy through Covered California [with a certified agent, at no additional charge]. Would you please answer these questions for me:

    1) Does spousal support count as income?

    2) Do gifts count as income?

    3) What time period is taken into account when calculating one’s income?

  2. Hi Steve,

    I am trying to calculate my income to see if I am eligible for Medi-cal or what I can buy through Covered California [with a certified agent, at no additional charge]. Would you please answer these questions for me:

    1) Does spousal support count as income?

    2) Do gifts count as income?

    3) What time period is taken into account when calculating one’s income?

    Thanks,

    Linda

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