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 ...

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 ...

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 $ ...

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

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 ...

Contributions made to traditional IRAs can be deducted from taxable income in certain situations, depending on tax filing status and modified adjusted gross income (MAGI). Single individuals and ...

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 ...