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New Member
posted Feb 14, 2020 11:27:53 AM

What is the Modified AGI

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3 Replies
Expert Alumni
Feb 14, 2020 11:53:23 AM

For an explanation of Modified AGI, please see this TurboTax Help article:  What Is the Difference Between AGI and MAGI on Your Taxes?

 

If you would like to calculate your MAGI, you can use the worksheet listed on p. 40 of IRS Pub. 590-A Contributions to Individual Retirement Arrangements (IRAs)

New Member
Mar 13, 2020 4:08:40 PM

The page 40 worksheet in Pub 590a references the OLD 1040 form and does not match the new, shortened 1040 form.

Expert Alumni
Mar 13, 2020 4:17:11 PM

Your total income is on line 7b of the new form. Then Schedule 1, which has IRA contribution, goes on line 8a. The difference creates line 8b for AGI.

@SEJohnsen