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.

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 ...

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 ...

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 ...

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 ...