dmertz
Level 15

Get your taxes done using TurboTax

  1. Assuming your calculation, the distribution of $426 will mean $460 of contribution returned.
  2. 10/15/2022
  3. In many cases MAGI will be the same as AGI.  See Worksheet 2-1 of IRS Pub 590-A for the calculation of MAGI for the purpose of determining the Roth IRA contribution limit:  https://www.irs.gov/publications/p590a#en_US_2021_publink100025085