Yes. There are different definitions for Modified Adjusted Gross Income (MAGI) depending on what you are trying to do.
For example, there is a calculation for MAGI that is used to determine whether you can contribute to a Roth IRA. If you are going through TurboTax and entering information to make a contribution to a Roth IRA, the MAGI is calculated in the background to determine if it is allowed. The messaging on the screen will let you know whether the MAGI is within those particular limits or not.
To learn more, take a look at the following information from the IRS:
Unfortunately not a pleasant answer. ESRD kidney failure has me applying for Medicare in my 50s. Need to show a trended MAGI amount to complete the application. So truly need the actual Value, not just the understanding that TT does it in the background.
PS to All. if you’re not a registered organ donor, please do the right thing and sign up. Over 100,000 kidney waitlist recipients are needing organs you no longer need should you pass.
@garysum MAGI is calculated differently depending on what is being requested.
You have not mentioned which MAGI you need to calculated.
Go to this IRS website for AGI and MAGI - https://www.irs.gov/filing/adjusted-gross-income