You'll need to sign in or create an account to connect with an expert.
The computation of MAGI can be found on the Modified Adjusted Gross Income Worksheet.
You are able to view the worksheet under Tax Tools / Print Center / Print, save or preview this year's return.
MAGI is calculated differently for different purposes. There are about a dozen different definitions of MAGI, depending on what it is being used for.
The Modified Adjusted Gross Income Worksheet in TurboTax is for Passive Activity Loss Limitations, not for Roth IRA contributions. To calculate your MAGI for Roth IRA contributions use Worksheet 2-1. Modified Adjusted Gross Income for Roth IRA Purposes in IRS Publication 590-A. You will find other useful information about Roth IRA contributions in Chapter 2 of that publication.
Only if you enter a Roth IRA contribution will TurboTax prepare the Roth IRA Contribution Limit Worksheet where TurboTax will show your MAGI on line 1.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
maxweb69
New Member
Bob4FrenchFries
Level 1
TaxPayer8881
Returning Member
johnsonj1
New Member
cwzkevin
Level 1