What Is Modified Adjusted Gross Income (MAGI)?

Modified Adjusted Gross Income (MAGI) is your AGI with certain deductions added back in, like student loan interest or IRA contributions. The IRS uses MAGI to determine eligibility for things like Roth IRA contributions, the Premium Tax Credit, and education credits. The exact calculation varies depending on which benefit you're trying to qualify for. In most cases, MAGI is the same as or close to your AGI. When in doubt, check the specific rules for the tax break you're after.