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Get your taxes done using TurboTax
Yes I agree with what you are saying about the MAGI v. AGI but here’s the thing. MAGI often requires you to add back in certain deductions like student loan interest. What if student loan interest is the difference between being over or under $150k? Typically MAGI adds it back in but the instructions appear to allow it to be deducted in terms of coming to an AGI for the unemployment compensation exemption. Just making sure I’m understanding it properly.
March 16, 2021
9:31 AM