Updated 12/04/2012 12:03 PM   |   ID# 1601

Calculation of modified adjusted gross income (MAGI)

How is modified adjusted gross income (MAGI) calculated?

Generally, your modified adjusted gross income (MAGI) is the total of your adjusted gross income and tax-exempt interest income you may have. These are the amounts on lines 37 and 8b of IRS from 1040. Some examples of income are: wages, salaries, tips, taxable interest, certain dividends, business income, capital gains, and unemployment compensation, as well as annuities, Social Security payments and some pensions.

For more information, go to www.socialsecurity.gov/mediinfo.htm, call us toll-free at 1-800-772-1213 (TTY 1-800-325-0778, or visit your local Social Security office.

To learn more about Medicare Part B (medical insurance) or Medicare prescription drug coverage, visit www.medicare.gov or call 1-800-MEDICARE (1-800-633-4227; TTY 1-877-486-2048.

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