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.

Medicare beneficiaries with income over a designated amount are required to pay a monthly fee in addition to their Medicare ...

Modified adjusted gross income (MAGI) is individual's adjusted gross income (AGI) after taking into account certain allowable deductions and tax penalties. MAGI is an important number to ...

Adjustment Amount (IRMAA) is an additional charge that high-income Medicare beneficiaries must pay on top of their Medicare ...

“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 ...

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 ...