The Modified Adjusted Gross Income (MAGI) is your Adjusted Gross Income (AGI) with the addition of the following deductions, if applicable:
- 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
You can find the AGI on line 11 on the 2020 Form 1040.
Please see What Is the Difference Between AGI and MAGI on Your Taxes? for additional information.
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