Since I contributed to 401k, is the AGI 1) shown in my W-2 Box 1 is the gross pay, $102300, minus $18500, $80k something or 2) calculated after the deductions:
- IRA and self-employed retirement plan contributions
- Alimony payments (for divorce agreements prior to 2019)
- Self-employed health insurance payments
- One-half of any self-employment taxes paid
Other adjustments used in calculating AGI include the following:
- Health savings account deductions
- Penalties on the early withdrawal of savings
- Educator expenses
- Student loan interest
- Moving expenses (for tax years prior to 2018)
- Tuition and fees
- Deductions for domestic production activities (for tax years prior to 2018)
- Certain business expenses of performing artists, reservists, and fee-basis government official
Then where is the MAGI shown? Or is it just a number I calculate and is not shown in w-2 either?
- Student loan interest
- One-half of self-employment tax
- Qualified tuition expenses
- Tuition and fees deduction
- Passive loss or passive income
- IRA contributions, taxable social security payments
- The exclusion for income from U.S. savings bonds
- The exclusion under 137 for adoption expenses
- Rental losses
- Any overall loss from a publicly traded partnership
