I see that the "Medicare MAGI" is shown in tabular form under Review > Expenses > Expense Details > Healthcare....but this is offset by 2 years (because that's what's relevant for IRMAA). Is there somewhere else where MAGI is computed and shown for each year? I was looking for this while evaluating ACA subsidies and if I understand correctly, MAGI is what governs the subsidy available. I'm sure there's a reason MAGI isn't shown in the Tabular Projections > Taxes view but that was where I kind of expected to find it.
It's obviously not a huge deal to just look 2 rows down where Medicare MAGI is shown but thought I'd ask in case I'm missing something obvious. TIA.
@ckwe I don't think so; but for most people MAGI=AGI, so I just look at Taxes > AGI Detail in tabular.
@jkandell @ckwe Pralana handles 4 different MAGIs as shown below. MAGI for ACA subsidies is different than MAGI for Medicare .
- Medicare MAGI = Federal AGI - Federally tax exempt interest.
This is shown on the HealthCare Expense details tabular projection and has a Metric MRI - ACA Subsidy MAGI = Federal AGI - (Federally tax exempt interest + non-taxable SSI).
It is shown on Form 8962 ACA Premium Tax Credit, line 3 and the calc is shown on line 2. - NIIT MAGI = Federal AGI with some adjustments for certain foreign income and is shown on Form 8960 NIIT, Part 3, line 13.
Pralana does not support foreign income adjustments, so it just uses Federal AGI. - MAGI for Passive Activity Losses: Federal AGI minus taxable SSI and various adjustments from Schedule 1.
It is shown on Form 8582 Passive Activity Loss Limitations, line 6.
Note that with the Jan 4 release, Pralana allows you to override Medicare MAGI due to life-changing events. The inputs for these are on the Healthcare Expenses > Healthcare Settings tab.
@cstone Aha. Like @ckwe, i also expected it at expenses/healthcare, given medicare-magi shown there (as a courtesy, since it’s not an expense.) Will submit ticket to consider adding aca-magi colomn under Expenses> detailed> healthcare, with column invisible if not needed as usual. That’s tab is the “goto” for healthcare.
@ckwe Sure thing, you are welcome. FYI, ACA MAGI was added to the Healthcare Expenses Projection at 8pm ET this evening.
