Is ObamaCare Subsidy Included in MAGI? Twitter Facebook Is the 2014 Obamacare subsidy included in my calculation of modified AGI for 2014? Answer The ObamaCare subsidy is based on MAGI, but is not included as income for MAGI. You calculate your MAGI before claiming the net tax credit. Rate and Comment on the Answer Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Save my name, email, and website in this browser for the next time I comment. Rate this Answer (1-5)* 1 2 3 4 5 This site uses Akismet to reduce spam. Learn how your comment data is processed.