Form 8962 magi

Forum|Forum|1 year ago
January 22, 2025
2 replies
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On Form 8962, turbotax pulls over the AGI dollar amount for line 2a while 2a should be MAGI. I am unable to edit this value. Is there another worksheet where this is calculated? Thanks.

DoninGA

Employee

The Modified AGI on the Form 8962 line 2a is calculated by the TurboTax software based on the requirements in the IRS Form 8962 instructions on Worksheet 1-1 page 8 - https://www.irs.gov/pub/irs-pdf/i8962.pdf#page=8

dmertz

Employee

With no tax-exempt interest and no foreign-earned income, MAGI for Form 8962 will be the same as your AGI.

jamesrath1970Author

Employee

I found the worksheet 1-1 on the IRS website. I thought that charitable contributions reduced AGI when calculating MAGI.

dmertz

Employee

I'm not aware of any modification to AGI for any purpose that subtracts out charitable contributions. Qualified Charitable Distributions made from an IRA reduce AGI directly, so if that's what you are thinking of, those would already not be part of your AGI. Otherwise, charitable contributions are itemized deductions on Schedule A that only reduce taxable income.