AGI vs. MAGI: Key Differences Modified adjusted gross income (MAGI) and adjusted gross income (AGI) are both important figures in the U.S. tax system, but they have distinct purposes and calculations.

MAGI is your AGI with a handful of deductions added back, including student loan interest, tax-exempt Social Security payments and excluded interest on savings bonds. Since these “add backs ...

“Very often, it’s modified AGI that is considered,” Renn says. Known as MAGI, the modified adjusted gross income is calculated by adding back some deductions to the AGI. For ...

Your income, on the other hand, does. Specifically, your modified adjusted gross income (MAGI) determines whether or not you can contribute to a Roth IRA and how much you can contribute.

Dear Rusty: I am confused by an article in my local newspaper which said that “MAGI” (modified adjusted gross income), on which my Medicare Part B premium is based, is my Adjusted Gross Income, plus ...

Your Roth IRA contribution is restricted by your modified adjusted gross income (MAGI), which impacts eligibility and contribution limits. If over MAGI limits, consider a backdoor Roth IRA ...

The maximum deduction is subject to income limits and gradually decreases until it is eliminated by phaseout when your modified adjusted gross income (MAGI) amount reaches the annual limit that ...

If you thought all was lost, it's not, you have several solutions to cover your student loan in a timely manner, to the point of having a deduction that would clean up your taxes.