For most people, modified adjusted gross income will be the same as adjusted gross income.

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To do the phase-out on Form 8815, Suzy first needs to calculate modified adjusted gross income.

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However, IRA and qualified retirement plan distributions and taxable portions of social security do raise your modified adjusted gross income, and this, of course, can push you over the threshold that triggers the 3.8% tax.

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One unintended consequence some of our clients are seeing as a result of their conversion will be a one or two year spike in their Medicare B payments, since such premiums are based on two-year trailing modified adjusted gross income.

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The rule would define income as adjusted gross income minus a modified measure of charitable contributions.

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In addition, he or she will not have to recognize the distribution as income for determining Adjusted Gross Income (AGI) or any modified AGI calculations.

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