topic What is the Modified AGI in Get your taxes done using TurboTax

What is the Modified AGI

staib20 — Fri, 14 Feb 2020 19:27:53 GMT

Re: What is the Modified AGI

Irene2805 — Fri, 14 Feb 2020 19:53:23 GMT

For an explanation of Modified AGI, please see this TurboTax Help article: What Is the Difference Between AGI and MAGI on Your Taxes?

If you would like to calculate your MAGI, you can use the worksheet listed on p. 40 of IRS Pub. 590-A Contributions to Individual Retirement Arrangements (IRAs)

Re: What is the Modified AGI

SEJohnsen — Fri, 13 Mar 2020 23:08:40 GMT

The page 40 worksheet in Pub 590a references the OLD 1040 form and does not match the new, shortened 1040 form.

Re: What is the Modified AGI

AmyC — Fri, 13 Mar 2020 23:17:11 GMT

Your total income is on line 7b of the new form. Then Schedule 1, which has IRA contribution, goes on line 8a. The difference creates line 8b for AGI.

@SEJohnsen