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.