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February 12, 2023
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How do I calculate my MAGI from my tax return for Medicare purposes? Specifically, what do I add back from my AGI?

  • February 12, 2023
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Best answer by rjs

MAGI for increased Medicare premiums ("IRMAA") is simply AGI plus tax-exempt interest. But your IRMAA is based on your MAGI from two or three years ago. For example, your IRMAA for 2023 will usually be based on your 2021 tax return, or possibly your 2020 tax return. On your 2020, 2021, or 2022 tax return, the MAGI for IRMAA is Form 1040 line 11 plus line 2a.

 

2 replies

rjs
rjsAnswer
Employee
February 12, 2023

MAGI for increased Medicare premiums ("IRMAA") is simply AGI plus tax-exempt interest. But your IRMAA is based on your MAGI from two or three years ago. For example, your IRMAA for 2023 will usually be based on your 2021 tax return, or possibly your 2020 tax return. On your 2020, 2021, or 2022 tax return, the MAGI for IRMAA is Form 1040 line 11 plus line 2a.

 

soldgoldAuthor
February 15, 2023

Thanks!

SteamTrain
Employee
February 12, 2023

It's your AGI plus Tax-Exempt interest.

On 2021 or 2022 tax returns, that's line 11 plus line 2a of your form 1040.

__________________

For IRMAA purposes, I suspect.

The number that Medicare will use in determining if extra premiums will be assessed in paying Part B and Part D Medicare premiums the next year?

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*