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November 25, 2024
Question

Is there a calculator on TurboTax that will allow me to calculate my MAGI in order to determine if I can contribute to a Roth IRA this year?

  • November 25, 2024
  • 2 replies
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    2 replies

    VolvoGirl
    Employee
    November 25, 2024

    The employee answer on that prior post says…

    MAGI is calculated by taking your Adjusted Gross Income and adding back items like your student loan interest deduction, foreign earned income exclusion, and excludable savings bond interest. You can see Worksheet 1-1 on page 15 of Publication 590-A for the complete calculation.