MAGI for Seniors
Although I am taxed on 85% of my social security is 100% of my social security included in my modified adjusted income?
There are several versions of modified AGI. For which purpose do you wish to know if the non taxable portion needs to be added back. It is definitely not added back for any IRA contribution purposes, but may be for certain govt benefits.
Is the 15% non taxed social security retirement payment added back to determine income related monthly adjusted amount; for 2021 the maximum income in 2019 is $176,000 before there is a surcharge?
No, the IRMAA version of MAGI does not include non taxable SS benefits, however it does add any non taxable muni bond interest to Form 1040 AGI.
Permalink Submitted by Alan - IRA critic on Fri, 2021-03-19 15:23
No, just the taxable portion.
Permalink Submitted by Tom Slocum on Fri, 2021-03-19 21:42
Why does the IRS say to add back in non taxed social security payments, Are they talking about something other than monthly retirement payments?