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Returning Member
posted Jun 3, 2019 5:26:16 PM

On my W-2 which box is my AGI and which box is my MAGI?

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

0 4 16382
4 Replies
Level 9
Jun 3, 2019 5:26:18 PM

1)  Unless your W-2 is your ONLY income and you have no 'above the line deductions' (the first two bulleted paragraphs that you listed), you can't figure out your AGI or your MAGI on your W-2.  You need to look at your tax return (Line 37 for years 2017 and older).

2)  There are MANY kinds of MAGI for various purposes; many are different.  You would need to tell us for WHAT PURPOSE you are wanting your MAGI.

Returning Member
Jun 3, 2019 5:26:19 PM

I'm trying to determine my MAGI to determine if I am eligible for the American Education Credit or Lifelong Learning Credit. My gross income described in my other posts is $102000, and I maxed out my HSA, Roth IRA, and 401k for 2018.

Level 9
Jun 3, 2019 5:26:21 PM

<a rel="nofollow" target="_blank" href="https://www.irs.gov/publications/p970#en_US_2017_publink1000204394">https://www.irs.gov/publications/p970#en_US_2017_publink1000204394</a>
<a rel="nofollow" target="_blank" href="https://www.irs.gov/publications/p970#en_US_2017_publink1000178212">https://www.irs.gov/publications/p970#en_US_2017_publink1000178212</a>

Based on your LARGE number of questions (and your high income), you REALLY should be going to a tax professional.  With so many things going on, you are likely missing out on some good tax advice.

Not applicable
Jun 3, 2019 5:26:24 PM

go to irs website and download 2017 form 1040 AGI is on line 37

Generally, your modified adjusted gross income (MAGI) is the total of your household's adjusted gross income plus any tax-exempt interest income you may have (these are the amounts on lines 37 and 8b of IRS from 1040).