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Get your taxes done using TurboTax
Yes. There are different definitions for Modified Adjusted Gross Income (MAGI) depending on what you are trying to do.
For example, there is a calculation for MAGI that is used to determine whether you can contribute to a Roth IRA. If you are going through TurboTax and entering information to make a contribution to a Roth IRA, the MAGI is calculated in the background to determine if it is allowed. The messaging on the screen will let you know whether the MAGI is within those particular limits or not.
To learn more, take a look at the following information from the IRS:
Definition of adjusted gross income
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‎January 20, 2025
7:15 AM