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Level 2
posted Nov 25, 2024 10:48:11 AM

Is there a calculator on TurboTax that will allow me to calculate my MAGI in order to determine if I can contribute to a Roth IRA this year?

0 2 14727
2 Replies
Level 15
Nov 25, 2024 10:54:41 AM

See the answer on this post

https://ttlc.intuit.com/community/investing/discussion/is-there-any-easy-way-to-determine-what-i-can-contribute-to-a-roth-ira-for-2024/00/3402561 

Level 15
Nov 25, 2024 10:58:17 AM

The employee answer on that prior post says…

MAGI is calculated by taking your Adjusted Gross Income and adding back items like your student loan interest deduction, foreign earned income exclusion, and excludable savings bond interest. You can see Worksheet 1-1 on page 15 of Publication 590-A for the complete calculation.