topic Is MAGI the same as AGI? in Get your taxes done using TurboTax

Is MAGI the same as AGI?

samjaxson — Mon, 13 Jul 2020 22:43:46 GMT

Re: Is MAGI the same as AGI?

Bsch4477 — Mon, 13 Jul 2020 23:01:17 GMT

No. A good discussion is

here.

https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-the-difference-between-agi-and-magi-on-your-taxes/L7kHckNS3

Re: Is MAGI the same as AGI?

Periwinkle65 — Mon, 13 Jul 2020 23:04:18 GMT

No. AGI is found on line 7 of your 1040 Federal tax form. It stands for ADJUSTED GROSS INCOME.

Re: Is MAGI the same as AGI?

rjs — Mon, 13 Jul 2020 23:08:43 GMT

What's misleading in the article that Bsch4477 referenced is that it makes it seem like there is only one way to calculate MAGI. Actually MAGI means different things in different places. There are about a dozen different sets of rules for calculating MAGI, depending on what it is being used for. The basic concept is always the same, but the list of what gets added or subtracted varies.