Modified Adjusted Gross Income (MAGI of) is a important calculation to determine whether you are eligible for a number of tax credits , benefits and exclusions -. making it ever important for tax purposes
However, many individuals and small business owners are not very clear on what can be deducted in the calculation of their MAGI. So in order to dispel confusion and to help you calculate your MAGI, here is a comprehensive list of various MAGI adjustments and deductions. 
But first, important deductions AGI
Before calculating your MAGI, it is important to understand adjusted gross income (AGI) deductions as well. Why? You must know your AGI to determine MAGI. Here is a list of applicable deductions.
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IRA and pension plan for self-employed contributions
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support payments
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independent payments health insurance
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half of all paid self-employment tax
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represent health savings deductions
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Sanctions on withdrawal anticipated savings
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educator expenses
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student loan interest
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moving expenses
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tuition
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Deductions for domestic activities
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Some business expenses entertainers, reservists and officials government base fee
Important MAGI and settings deductions
once you have gone through your AGI deductions, you can now apply the deductions and adjustments to find your MAGI.
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student loan interest
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half of the self employment tax
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eligible tuition fees
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deduction for tuition and fees
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IRA contributions, taxable social security payments passive loss or passive income [
the exclusion of income from savings bonds in the United States
L exclusion under 137 for adoption expenses
rental loss
any comprehensive loss of a listed company
then?
now that you understand what to deduct when calculating your MAGI, where do you go from here? If you're like most people and do not know how to calculate MAGI, you are not alone. Do not worry, we're here to help! Here is a list of some of our best resources to help you calculate your MAGI easily learn what it is used for, and what role it plays in small businesses.
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Guide the small business owner to change adjusted gross income
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How to calculate Modified adjusted gross income (MAGI)
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FAQ -
Conclusion What is modified adjusted gross income
MAGI used in many different situations, including to determine whether you qualify a certain number of credits, benefits and exclusions. And understand what is a deduction can be the difference between qualifying for various credits or not. As such, it is important for you to be aware and educated as to deductions apply to you.
Do you have any questions about deductions MAGI? If so, let them here!
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