Understanding MAGI

[dmayle]

This is an awesome tool!

It took a bit of muddling through, but I was able to figure out how to model most of what I'm interested in.

One thing I'm curious about, however, is if there's a way to figure out MAGI numbers? (This is specifically for the purpose of modelling subsidized ACA for pre-medicaid retirement planning). Understanding what MAGI will be with the expected expense types will help to determine health insurance costs.

[schelskedevco]

Thank you!

I was planning to add some ACA stuff down the line, but I think MAGI as it relates to ACA includes the non-taxable portion of social security benefits, tax-exempt interest (e.g. municipal bonds), and foreign earned income exclusion.

Otherwise, AGI (already shown in the Taxes tab of the app, there is an AGI dropdown option) should equal to MAGI. There is no great way to put in tax exempt income or foreign earned income exclusion at the moment. If you have these in real life, this may be a hangup for you for now, but if not then the AGI calculation should be accurate!