Skip to main content
February 10, 2024
Question

Where can I find my magi for this year so I can calculate how much I can put in a roth ira?

  • February 10, 2024
  • 1 reply
  • 0 views
No text available

1 reply

February 14, 2024

Your modified adjusted gross income (MAGI) does not appear on your tax forms.

 

To calculate your modified adjusted gross income, take your AGI and "add back" certain deductions. Many of these deductions can be rare, so it's possible your AGI and MAGI can be identical. Different credits and deductions can have differing add-backs for your MAGI calculation. According to the IRS, your MAGI is your AGI with the addition of the appropriate deductions, potentially including:

 

  • Student loan interest
  • One-half of self-employment tax
  • Qualified tuition expenses
  • Tuition and fees deduction
  • Passive loss or passive income
  • IRA contributions
  • Non-taxable social security payments
  • The exclusion for income from U.S. savings bonds
  • Foreign earned income exclusion
  • Foreign housing exclusion or deduction
  • The exclusion under 137 for adoption expenses
  • Rental losses
  • Any overall loss from a publicly traded partnership