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.

If you paid interest on your student loan debt in 2024, you may be able to deduct up to $2,500 from your taxable income.

“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 ...

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 ...

People preparing to file taxes for the 2024 tax year may be eligible to claim a student loan tax deduction for interest payments.

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 any ...

By Russell Gloor, National Social Security Advisor at the AMAC Foundation, the non-profit arm of the Association of Mature ...

To get the whole credit for your kid, your modified adjusted gross income, or MAGI, can’t be over $400,000 if you’re a married joint filer or $200,000 if you use another status. A partial ...

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 ...