Deductions & credits

macuser_22 · ‎October 13, 2021

That is not how MAGI for IRA's is calculated.

Per the IRS Pub 590A worksheet 1-1.

https://www.irs.gov/publications/p590a#en_US_2020_publink100025076

Worksheet 1-1.Figuring Your Modified AGI

Use this worksheet to figure your modified AGI for traditional IRA purposes.

1.	Enter your adjusted gross income (AGI) from Form 1040, 1040-SR, or Form 1040-NR, line 11, figured without taking into account the amount from Schedule 1 (Form 1040), line 19	1.	_____
2.	Enter any student loan interest deduction from Schedule 1 (Form 1040), line 20	2.	_____
3.	Enter any tuition and fees deduction from Schedule 1 (Form 1040), line 21	3.	_____
4.	Enter any foreign earned income exclusion and/or housing exclusion from Form 2555, line 45	4.	_____
5.	Enter any foreign housing deduction from Form 2555, line 50	5.	_____
6.	Enter any excludable savings bond interest from Form 8815, line 14	6.	_____
7.	Enter any excluded employer-provided adoption benefits from Form 8839, line 28	7.	_____
8.	Add lines 1 through 7. This is your Modified AGI for traditional IRA purposes	8.	_____

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**