MAGI calculated

Forum|Forum|2 years ago
July 20, 2023
1 reply
11 views

Does LC calculate MAGI? If so, where does it appear?

It appears on Form 8960.

Lacerte Tax

This topic has been closed for replies.

T

TaxGuyBill

Level 15

Could you clarify what you are asking? You seem to be asking where does it appear, but then you said it appears on Form 8960.

Are you asking about MAGI for purposes of the Net Investment Income Tax on Form 8960, or are you asking about some other version of MAGI for another purpose?

S

strongsilenceAuthor

Level 10

MAGI and only MAGI.

Is there a worksheet or statement that can be produced?

I noticed that is appears on F8960. Is the calculation of MAGI shown in detail?

T

TaxGuyBill

Level 15

As I asked before, are you asking about MAGI for purposes of the Net Investment Income Tax on Form 8960, or are you asking about some other version of MAGI for another purpose?

"MAGI" does not have a universal definition. There are about a dozen things that use "MAGI", and many of them are calculated differently from other versions.

So are you specifically wanting to know how the calculation of MAGI is for 8960? Or are you wanting some other version of MAGI?

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