Modified Adjusted Gross Income (MAGI) (2) … means adjusted gross income – Line 37 of the 1040 26 USC §62 increased by—
(i) IRC §911 [foreign income] Form 2555
(ii) Tax-exempt interest (Line 8b) [IRS Coursework] [Form 8815 Interest Income Investing Answers.com] the taxpayer receives or accrues during the taxable year; and
(iii) some Social Security Benefits (Line 20a & b) ♦ (UC Berkely One Page Summary) ♦ CFR 1.36 B 1 ♦ FN 1
Publication 17
7. Interest Income
-
- Interest subject to penalty for early withdrawal.
- Money borrowed to invest in certificate of deposit.
- U.S. Savings Bonds
- Education Savings Bond Program
- U.S. Treasury Bills, Notes, and Bonds
- Bonds Sold Between Interest Dates
- Insurance
- State or Local Government Obligations
- Original Issue Discount (OID)
- When To Report Interest Income
- How To Report Interest Income