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Deductions & credits
CORRECTION:
AGI and MAGI are calculated before any itemized deductions, such as charitable contributions, are applied. Itemized deductions do not reduce AGI or MAGI.
Secondly, MAGI is calculated differently for different purposes. There are about a dozen different definitions of MAGI, depending on what it's being used for. You didn't say which MAGI you are looking at.
‎January 12, 2025
2:50 PM
4,434 Views