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 ...

Modified adjusted gross income, or MAGI, might sound like just more tax jargon, but knowing how to calculate your MAGI is key to determining your eligibility for several valuable tax benefits ...

The author and editors take ultimate responsibility for the content. Modified adjusted gross income, also known as modified AGI or MAGI, is an income metric that is used to determine eligibility ...

There's a slightly different version of adjusted gross income known as modified adjusted gross income, or MAGI, which is technically the income number used for certain tax benefits. In a nutshell ...

While the AGI is important, the modified adjusted gross income may be more important for those applying for assistance through programs such as Medicaid or the government health insurance marketplace.

Note that adjusted gross income is not the same thing as modified adjusted gross income, which is used to calculate eligibility for specific tax purposes. Investopedia has a simple formula for ...

If you see the term "modified adjusted gross income," or MAGI, it is your AGI with certain deductions added back in and is used for determining eligibility for tax credits and deductions and ...

The amount you can deduct depends on your modified adjusted gross income and is capped at a maximum of $2,500. Your lender should send a Form 1098-E, which you'll use to calculate the interest ...