MAGI on Form 8582 does not match expected MAGI from Form 1040

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Question

Why doesn't the MAGI on Form 8582 match the expected MAGI from Form 1040?

Answer

If the taxpayer (or spouse, if filing jointly) is claiming the self-employed health insurance deduction and premium tax credit, the Premium Tax Credit Simplified Method Calculation will calculate the MAGI for the PTC using an interim self-employed health insurance deduction amount. The resulting tentative self-employed health insurance deduction, which can be found on PTC Simplified Calculation Method Worksheet, line 18, in the Form 8962 folder in Forms view, is used to calculate the MAGI on Form 8582. See Calculations in worksheets for Publication 974, Premium Tax Credit for details. 

Related topic: Affordable Care Act FAQs

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