IRA income limit question

[jennifers]

I'm trying to estimate my modified AGI to determine if I can deduct a traditional IRA for 2018.

Because I'm single these rules should apply:
MAGI $63,000 or less: a full deduction up to the amount of your contribution limit.
more than $63,000 but less than $73,000: a partial deduction.
$73,000 or more: no deduction.

According to my paystub for today I made XXXXX dollars this year.
I contributed 18,200 to 401k.
I paid 1,765 for health insurance through my employer (pre tax)

Does that make my MAGI XXXXX- 18,200 - 1765?

I keep reading online that my MAGI also includes the IRA contribution?
I've already put 2,000$ in my traditional IRA for this year, but it looks like I won't be able to get any deduction for it.
Is there anything I can do? Roll over to Roth IRA or just take the money out? It's a Vanguard IRA.

Thanks in advance!

[bacchi]

Yes, MAGI is your AGI + tIRA contributions and a few other things.

You'll probably need to recharacterize your tIRA contributions to a Roth. Open a Roth and then call up Vanguard and ask them to recharacterize this year's tIRA contribution. They do it a lot. Do not rollover. Do not convert. The magic word is "recharacterize." You may even be able to do it online.

https://www.irs.gov/retirement-plans/ira-faqs-recharacterization-of-ira-contributions


This is assuming you qualify for a Roth contribution.

https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that-you-can-make-for-2018

[MDM]

I keep reading online that my MAGI also includes the IRA contribution?

Yes, you don't get to deduct your contribution in order to be eligible to deduct a contribution. ;)
The MAGI calculation for traditional IRA purposes is https://www.irs.gov/publications/p590a#en_US_2017_publink1000230489.
Then see IRA Deduction Limits | Internal Revenue Service

I've already put 2,000$ in my traditional IRA for this year, but it looks like I won't be able to get any deduction for it.
Is there anything I can do? Roll over to Roth IRA or just take the money out? It's a Vanguard IRA.

bacchi's answer is best if you are ineligible to deduct a tIRA contribution but eligible to make a Roth IRA contribution.  If you make too much for the direct Roth IRA contribution, there is the Backdoor Roth IRA process.

[billy]

So for 2019 tax year married file jointly, to get the MAGI I can subtract two t401k's and one t457 from my AGI? And if my MAGI is $103,000 I can fully deduct both of our tIRA's?

[MDM]

So for 2019 tax year married file jointly, to get the MAGI I can subtract two t401k's and one t457 from my AGI?

No.  The 401k/457 amounts will already have been subtracted from your gross pay and not included in your W-2 Box 1 that feeds form 1040, so they haven't been included in your Form 1040 Adjusted Gross Income (AGI).

And if my MAGI is $103,000 I can fully deduct both of our tIRA's?

Yes.

[billy]

Got it, thanks. And if I only only qualify for a partial deduction, can I recharacterize the difference at any time (2019 tax year recharacterized in the middle of 2020)?

[MDM]

Got it, thanks. And if I only only qualify for a partial deduction, can I recharacterize the difference at any time (2019 tax year recharacterized in the middle of 2020)?

Not "any time" but yes to your example.  See IRA recharacterization - Bogleheads.