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February 15, 2021
Question

How and where do I find my MAGI (Modified AGI) ?

  • February 15, 2021
  • 1 reply
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I need this information for Roth IRA purpose.

1 reply

February 15, 2021

Here is the definition of MAGI for Roth Contribution purposes:


Modified AGI.

 

Modified AGI for Roth IRA purposes is AGI minus conversion income (any income resulting from the conversion or rollover from a qualified retirement plan to a Roth IRA).

 

To the resulting amount add the following.

  • Traditional IRA deduction.
  • Student loan interest deduction
  • Tuition and fees deduction
  • Foreign earned income exclusion.
  • Foreign housing exclusion or deduction.
  • Excluded U.S. Savings Bond interest used for education
  • Excluded employer-provided adoption benefits

For additional information, refer to the following link:

 

The TaxBook Deluxe MAGI for Roth Contribs