AGI vs. MAGI: Key Differences Modified adjusted gross income (MAGI) and adjusted gross income (AGI) are both important figures in the U.S. tax system, but they have distinct purposes and calculations.

“Very often, it’s modified AGI that is considered,” Renn says. Known as MAGI, the modified adjusted gross income is calculated by adding back some deductions to the AGI. For ...

Contribution limits are not reduced to a Roth or traditional IRA based on 401(k) participation, so maximize contributions if ...

MAGI is your AGI with a handful of deductions added back, including student loan interest, tax-exempt Social Security payments and excluded interest on savings bonds. Since these “add backs ...

Dear Rusty: I am confused by an article in my local newspaper which said that “MAGI” (modified adjusted gross income), on which my Medicare Part B premium is based, is my Adjusted Gross Income, plus ...

Your income, on the other hand, does. Specifically, your modified adjusted gross income (MAGI) determines whether or not you can contribute to a Roth IRA and how much you can contribute.

IRMAA for 2025 is based on modified adjusted gross income (MAGI) on tax returns filed in 2023. Different monthly surtaxes are imposed at different MAGI levels. IRMAA begins when MAGI exceeded $ ...

However, investors should be aware of two important changes in 2025. First, the income limits for traditional IRA deduction limits have increased. Second, the income limits for Roth IRA eligibility ...

Your Roth IRA contribution is restricted by your modified adjusted gross income (MAGI), which impacts eligibility and contribution limits. If over MAGI limits, consider a backdoor Roth IRA ...

If you thought all was lost, it's not, you have several solutions to cover your student loan in a timely manner, to the point of having a deduction that would clean up your taxes.