Skip to main content
February 26, 2022
Question

Hey what is up with Form 8962 and the Modified AGI and asking for it from my return - If i cannot file my return how can I get the numbers its asking for?

  • February 26, 2022
  • 1 reply
  • 0 views
Part 1 and Contribution amount 2a and 2 b...All of Part 1

1 reply

February 26, 2022

If you are filing your own Form 8962 to claim the premium tax credit, TurboTax automatically calculates your household MAGI. No adjustment to it is necessary unless you have a dependent on your tax return who has earned income that you are not reporting on your tax return.

 

If you have a dependent who earned income that income needs to be included to calculate the premium tax credit correctly. If they only have income from a W-2, that will be their MAGI. If their income is more complicated and they have taxable and non-taxable income, you may use the worksheet provided by the IRS to determine their MAGI. In these cases, it may be easier for the dependent to prepare their tax return before you prepare yours.