What is Modified Adjusted Gross Income (MAGI)?

Your Modified Adjusted Gross Income (MAGI) is used to the determine the level of subsidy you will received with Obamacare.  The MAGI for Obamacare takes into account all household incomes (adults and children).  You MAGI is calculated by totalling your household income, subtracting certain deductions allowable by the IRS.  It can be found by:

Form 1040:  Totaling Line 37 + Line 8b on your 2012 Tax Return (Form 1040)

Form 1040 EZ: Line 4

Form 1040A: Line 21

This will help you determine your MAGI, however the final calculation of the MAGI will be determined by the Federal Exchange.

Please note....At time of publication, this information is accurate. There is no guarantee Federal interpretations of ACA will not change prior to full implementation after 1/1/14.