Modified adjusted gross income, or MAGI, is a crucial tax term to know if you want to qualify for valuable tax benefits.

Once you’ve added up your total deductions, you transfer that figure to line 10 on the front page of your Form 1040. What Is the Difference Between Gross Income and Adjusted Gross Income?

Internal Revenue Service. “Form 1040: U.S. Individual Income Tax Return.” Internal Revenue Service. “Definition of Adjusted Gross Income.” Internal Revenue Service. “Schedule 1 ...

Adjusted gross income is a tax term everyone should understand ... You’ll need a copy of your tax return and then look for it on Form 1040. The layout of the form occasionally changes, but ...

Form 1040 lists your gross income for the year minus adjustments to income, such as retirement account contributions. That leads to your adjusted gross income (AGI) which you can reduce by either ...

You'll also need to compute your MAGI. This is your adjusted gross income, or AGI, which is noted on line 11 of the 1040 or federal return form, with foreign income and housing exclusions added ...