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Retirement tax questions
Please be aware, that the Modified Adjusted Gross Income for Roth IRA Purposes is differently calculated than the regular MAGI.
The Modified Adjusted Gross Income for Roth IRA Purposes deducts any income resulting from the conversion of an IRA (other than a Roth IRA) to a Roth IRA (included on Form 1040, 1040-SR, or 1040-NR, line 4b) and a rollover from a qualified retirement plan to a Roth IRA (IRS).
Please see What Is the Difference Between AGI and MAGI on Your Taxes? for additional information.
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‎February 26, 2022
6:37 AM