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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.
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.
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