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View Diary: In 400 Days the Health Insurance Cliff will Kick In. For Real. (97 comments)

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  •  Adjusted Gross doesn't take all that in (0+ / 0-)

    "AGI" is what's at the bottom of page 1 of the long-form 1040. There are a few things that come out "above the line" (alimony paid, student loan interest) before that calculation.

    But all the things you list come out "below the line" -- itemized deductions (including mortgage and property taxes), personal exemptions for your family, etc. They reduce "taxable income" but not "AGI."

    I haven't seen the fine print as to what number the health insurance credit is based on -- you're right, it could make a considerable difference which line of the tax form they work from.

    I'm assuming it will either be AGI or some slight tweaking of it. That's the number that's used for most tax-related cut-offs, such as how much child care credit you get, how much retirement credit, and whether your itemized deductions are limited.

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