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Get your taxes done using TurboTax
The actual IRS worksheet for MAGI used for ROTH Contributions is on worksheet 2-1:
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From what I can see in that IRS worksheet, the MAGI does not include tax-exempt income from Municipal bonds (line 2a on the form 1040). A bunch of other stuff can affect it though.
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Other alternate MAGI's, for other purposes, do include tax-exempt interest/dividends, but apparently not this one, unless I'm missing something.
@dmertz Correct?
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
‎September 9, 2023
10:08 AM