TurboTax will calculate you Modified Adjusted Gross Income (MAGI) for you. When you enter your Roth IRA contribution information in the "Deductions & Credits" section under "Retirement and Investments" the program will calculate whether you are eligible to contribute the full amount. If your income exceeds the allowable limits, TurboTax will identify the excess and inform you of the correct limit.
Modified Adjusted Gross Income (MAGI) determines your eligibility to contribute to a Roth IRA. If your MAGI is below the phase-out range, you can contribute the full amount ($7,000, or $8,000 if age 50 or older). If your income falls within the range, your contribution limit is reduced, and if it exceeds the range, you cannot contribute directly to a Roth IRA.
The income limit to make a full Roth IRA contribution in 2025 is less than $150,000 for single filers, and less than $236,000 for those filing jointly. If you’re single, you can contribute a portion of the full amount if your MAGI is $150,000 or more, but less than $165,000. For those married filing jointly, the range to contribute a portion of the full amount is $236,000 or more, but less than $246,000. If you’re single and your MAGI is $165,000 or more, or if you are married filing joint and your MAGI is $246,000 or more, you are not eligible to contribute to a Roth IRA. You can still make contributions to a traditional IRA.
Your MAGI is your Adjusted Gross Income (AGI) plus adjustments (additions) for certain credits, adjustments, and deductions. The add-backs include, but aren't limited to: student loan interest deduction, foreign earned income and housing exclusions, and foreign housing deduction.
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