Calculate Modified Adjusted Gross Income without Tax Return

Use this form if you expect a significant change in your income since filing your last federal tax return (for example, a change in income that is at least 10 percent different), if you anticipate to have a major change in income in the future, or if you are unsure about your projected annual income. This form will help you determine your projected annual MAGI.

  • Note: that pre-tax contributions to dependent care accounts, health insurance premiums, flexible spending accounts, retirement accounts and commuter expenses are NOT included as income
  • Social Security Disability Insurance (SSDI) is included here. Social Security Income (SSI) income is not included here. If you are receiving SSI, you are automatically eligible for Medicaid in the state of Colorado. You also do not need to include any veterans disability benefits you may receive.
  • Most deductions for self-employed business expenses are included in net income (the profit once business expenses are paid) but additional deductions can be taken for the deductible part of self-employment tax, self-employed SEP, SIMPLE, and qualified plans, and self-employed health insurance deductions. For additional information see IRS Publication 334, Tax Guide for Small Business.
  • Households may be able to deduct a portion of the interest they expect to pay on a qualified student loan. Box 1 of the 1098-E Form shows the interest paid for the prior year, which may be helpful in projecting student loan interest that will be paid during the year.

    Note: IRS deduction limits may be applied to the amounts you entered. The maximum amount you may include for this deduction is $2,500 annually.

  • Note: IRS deduction limits may be applied to the amounts you entered. The maximum amount you may include for this deduction is $6,500 annually.
  • Note: IRS deduction limits may be applied to the amounts you entered. The maximum amount you may include for this deduction is $3,000 annually.