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Foreign Earned Income Exclusion

The exclusion of foreign earned income from taxable income and its impact on the calculation of Modified Adjusted Gross Income (MAGI) for the 2025 senior deduction.

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Jan 24, 2026
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Which specific lines and forms on the 2025 Form 1040 and associated schedules will show the senior deduction and MAGI add‑backs?

The new 2025 “senior” deduction calculation begins with Adjusted Gross Income (AGI) on Form 1040 — Line 11 — and the Modified Adjusted Gross Income (MAGI) add‑backs are computed on a new supplemental ...

Jan 14, 2026
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What specific income types are excluded from MAGI when calculating ACA premium tax credits in 2025?

The ACA’s Modified Adjusted Gross Income (MAGI) for premium tax credit (PTC) purposes starts with a taxpayer’s adjusted gross income (AGI) and then adds back only three specific untaxed items: untaxed...