If your MAGI is $79,000 or less, you can deduct that full $7,000 from your taxable income on your 2025 tax return (filed in 2026). The table below shows how deductions change based on filing ...

Modified adjusted gross income, or MAGI, might sound like just more tax jargon, but knowing how to calculate your MAGI is key to determining your eligibility for several valuable tax benefits ...

The IRS uses your modified adjusted gross income (MAGI) to determine whether you qualify for important tax benefits like deducting contributions from your individual retirement account (IRA) and ...

Typically, your MAGI is your AGI adjusted for certain expenses and income. Generally, your MAGI calculation is your AGI with student loan interest added back in.

Strategically managing your MAGI can potentially help you save on taxes and optimize your finances. So, as you review your year-end tax situation, here are a few important aspects to consider.

Roth 401(k) contributions don't reduce either AGI or MAGI, as they are made with after-tax dollars. 401(k) Contributions To contribute to a 401(k), an employee must be eligible and the employer ...

However, the one constant of MAGI is that it always starts with your adjusted gross income. (That is the amount shown on Line 11 of your Form 1040 or Form 1040-NR .) ...