What Is Modified Adjusted Gross Income?
Modified adjusted gross income (MAGI) is your Ohio adjusted gross income (Ohio IT 1040, line 3) plus your business income deduction (Ohio Schedule of Adjustments,
line 13). If you did not take a business income deduction,
your MAGI matches your Ohio adjusted gross income.
You will need to know your MAGI to determine your:
●Exemption amount;
●Retirement income credit;
●Lump sum retirement credit;
●Senior citizen credit;
●Lump sum distribution credit;
●Child care and dependent care credit;
●Exemption credit; AND
●Joint filing credit.
Additionally, if you live in an earned income tax base
school district, your taxable income is limited to only
earned income included in your MAGI.
https://dam.assets.ohio.gov/image/upload/v1735920104/tax.ohio.gov/forms/ohio_individual/individual/2024/it1040-booklet.pdf