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Retirement tax questions
Says so even on Turbo Tax advice: What Is the Difference Between AGI and MAGI on Your Taxes?
MAGI calculation
To calculate your modified adjusted gross income, take your AGI and add back certain deductions. Many of these deductions are rare, so it's possible your AGI and MAGI can be identical. According to the IRS, your MAGI is your AGI with the addition of the following deductions, if applicable:
- One-half of self-employment tax
May 15, 2020
1:03 PM