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

generate tax-free interest income that won't be included in your combined income calculation. This can help keep your taxable income lower and reduce the portion of your Social Security benefits ...

Since your taxable income is under $100,000, you must use the IRS tax tables to determine your federal tax liability, not the tax computation worksheet. According to the 2024 IRS tax tables ...