Found some useful info from another thread - https://ttlc.intuit.com/community/taxes/discussion/can-turbotax-tell-me-my-magi-i-saw-the-article-th..., look at the post by Wyner2020 on February 27, 2024 8:51 PM.
Based on TT's explanation, it did calculate the MAGI by adding my deductible traditional IRA contribution and the AGI, but, as I mentioned in my original post, isn't this backward?
Again, based on this IRS site, Link to IRS to get the MAGI for traditional IRA deductions, I should take the AGI and add the following:
- Student loan interest deduction
- Excludable savings bond interest
- Employer-provided adoption benefits excluded from income
- Foreign earned income or housing excluded from income
- Foreign housing deduction.
So, is TT wrong?
