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Where is MAGI (Modified Adjusted Gross Income) reported?

MAGI can be found both on the Tax Report and Scenario Analysis.

Tax Report

The Modified Adjusted Gross Income (MAGI): Planning Considerations section on the Tax Report lists out various deductions and credits organized by their different MAGI definitions. This includes the definition, their phase out amounts, as well as whether the client is currently Above/Under/In Phase Out. In the instance a specific planning opportunity does not pertain to a certain client, it can be hidden using the eye icon located to the right.

 

The formulas for these various definitions are displayed as well below the MAGI section. Individual definitions can be hidden using the eye icon, otherwise all formulas can be hidden using the teal Hide All Formulas button seen below.



The MAGI calculation specific to IRMAA (Income Related Monthly Adjustment Amounts) surcharges is included on the Medicare Part B/D Premiums section. This includes the MAGI thresholds, the client's MAGI amount, and their Part B/D base premiums and adjustment amount. 

 

Scenario Analysis

The MAGI tab towards the bottom of the Scenario Analysis also include various deductions and credits organized by their different MAGI definitions. This tab also includes the definition, their phase out amounts, as well as whether the client is currently Above/Under/In Phase Out like the Tax Report.