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February 18, 2024
Solved

Does your 401k rollover to an IRA get added in to calculate you MAGI?

  • February 18, 2024
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for example - if adjusted gross income is $50,000 and a 401k rollover is $25,000.  Is MAGI still $50,000 or does it become $75,000?
Best answer by dmertz

A rollover from a 401(k) to a traditional IRA is nontaxable and therefore does not add to AGI which is used as the starting point for any modifications to AGI.  Only taxable distributions add to AGI.

1 reply

dmertzAnswer
Employee
February 18, 2024

A rollover from a 401(k) to a traditional IRA is nontaxable and therefore does not add to AGI which is used as the starting point for any modifications to AGI.  Only taxable distributions add to AGI.