Why is there no difference between my income and the MAGI?

[Chumba1]

Income totals: $142,200.00   MAGI: 142,200.00

[Texas Roger]

There are several different MAGIs depending on what it is used for. What are you using the MAGI for on your return? Why do you think it would be different?

[Chumba1]

I am under the impression that once you enter in all your deductions and credits, that they will lower your MAGI.

[Texas Roger · Accepted solution]

That is not correct. Once you enter your standard deduction and exemptions, they are subtracted from your AGI and the result is your taxable income. MAGI is totally different. It is often a change to AGI to add back some adjustments that aren't allowed for certain tax situations. TurboTax will calculate it for you automatically if you need it for some reason on your tax return.