Modified Adjusted Gross Income (MAGI): What is it and why does it matter?
Posted on July 30, 2023 in guide
Modified adjusted gross income (MAGI) is a calculation used by the IRS to determine eligibility for certain tax benefits, such as the Roth IRA, the Saver's Credit, and the Health Savings Account (HSA).
MAGI is calculated by taking your adjusted gross income (AGI) and adding back certain deductions, such as …
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