Modified Adjusted Gross Income MAGI

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Definition of 'Modified Adjusted Gross Income MAGI'

The acronym MAGI stands for Modified Adjusted Gross Income.

Certain tax calculations are based on modified versions of AGI. The definition varies according to the purpose for which it is used. These modified versions may add certain items to AGI that were excluded in computing gross income. Common additions include tax exempt interest and the excluded portion of Social Security benefits.

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