More details on MAGI Income, Expenses or Deductions
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Child, Related Pages & Site Map
- Alimony – From a Divorce Settlement – Line 11 & 31
- Annuity Income? IRA, Pension # 1040 Line 16a
- Calif. Earned Income Tax Credit
- Capital Gains – Line 13
- Caregiver Income?
- Charitable Donations
- Clergy – Housing Allowance?
- Debt Cancellation?
- Educational Credits
- Employee Business Expense Unreimbursed
- FAQ Taxable & Non-Taxable Income?
- Foreign Income IRC §911 – Line 21
- Fudging the Income or Deductions?
- Gambling Income & Losses – Other Income Line 21
- Gift Income?
- Interest Income – Line 8 a & b
- Itemize or use Standard Deduction?
- Life Insurance Proceeds
- Medical Expense Deduction – Line 40 Individual
- Military – Armed Forces
- Rental Income? Line 17
- Schedule C – Self-Employment Income – Line 12
- SDI State Disability Benefits Taxable?
- Sharing, Gig, On Demand, Access Economy, Air Bnb, Lyft, Uber
- Social Security Benefits Line 20 a & b
- Student Loan Interest?
Covered CA list of what counts as income?
Publication 525, Taxable and Nontaxable Income.
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IRS - Your Federal Income Tax - Publication # 17
What counts as Income?
Gains & Losses
Adjustments to Income?
Deductions
How to figure your tax?
I am trying to calculate my income to see if I am eligible for Medi-cal or what I can buy through Covered California [with a certified agent, at no additional charge]. Would you please answer these questions for me:
1) Does spousal support count as income?
2) Do gifts count as income?
3) What time period is taken into account when calculating one’s income?
Spousal Support – When was your divorce decree signed? See our webpage on Alimony
How much is the gift? See our page on gifts
The time frame is the future! See MAGI Definition. Sure, many people think it’s the past as Covered CA may ask for last years paperwork, but that’s BS! You might have to give back all the subsidies when you file form 8962!
Agents are prohibited from giving tax advice. You can try VITA
Once you know your expected MAGI income for this or the upcoming year – use our free subsidy and FPL calculator to get quotes or see if your income is below 138% of income and you go Medi Cal.
Click here to view more FAQ’s https://taxcredits.healthreformquotes.com/magi-modified-adjusted-gross-income-line-37/magi-faqs/taxable-non-taxable-income/
Hi Steve,
I am trying to calculate my income to see if I am eligible for Medi-cal or what I can buy through Covered California [with a certified agent, at no additional charge]. Would you please answer these questions for me:
1) Does spousal support count as income?
2) Do gifts count as income?
3) What time period is taken into account when calculating one’s income?
Thanks,
Linda
1. Yes, it’s line 11 of your 1040. See our page on spousal support for more detail
2. No. See our Gift page for more detail
3. It’s what you expect that your 2016 1040 return will show for line 37 AGI Adjusted Gross Income, then add in, Social Security Line 20…, Foreign Income and Exempt Interest line 8b. See our MAGI Income page for more detail.
Get free quote, subsidy calculation, Enhanced Silver Level here, once you have your estimated MAGI Income. You can easily change the income amount and see if you get Medi-Cal, Enhance Silver, etc. There is no extra charge for our help. We get paid, when you appoint us as your agent.