Author Topic: MAGI  (Read 1022 times)

primozaj

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MAGI
« on: August 26, 2018, 06:43:46 PM »
There are a lot of articles out there but does anyone have a better way to calculate Modified Adjusted Gross Income?  Nowhere have I found one that says take your 1040 and start with box X, then minus box y then box z, and so on, and this is what I'm looking for.  Does this exist?  Is it possible to calculate MAGI this way?  My income has gone up due to a promotion and I want to see if I am limited on my Roth IRA contributions.  A colleague with a similar salary, but no rental property nor mortgage, said that he can't contribute the whole $5500 due to his MAGI.  Any help would be appreciated even if its a link to another MMM forum post.

MDM

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Re: MAGI
« Reply #1 on: August 26, 2018, 07:48:59 PM »
There are, unfortunately, multiple MAGIs.

But the one for maximum Roth contribution is is https://www.irs.gov/publications/p590a#en_US_2017_publink1000230985
Then see Retirement Topics IRA Contribution Limits | Internal Revenue Service.

And if needed, see Backdoor Roth IRA - Bogleheads.

 

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