Non-investing private finance points together with insurance coverage, credit score, actual property, taxes, employment and authorized points resembling trusts and wills.
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Subject Writer
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Is this correct for AGI & MAGI?
Only for clarification and my sanity, AGI doesn’t have the usual deduction or itemized deductions subtracted however MAGI does have the usual deduction or itemized deductions subtracted? Thanks upfront for serving to me with one thing I ought to have the ability to determine myself.
IMHO, Investing must be about residing the life you need, not avoiding the life you concern. |
Run, You Intelligent Boy! [9085]
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Subject Writer
- Posts: 12270
- Joined: Fri Jul 26, 2013 2:05 pm
Re: Is this correct for AGI & MAGI?
Thanks. That’s what I assumed however then I swear earlier this night I ran throughout one thing that mentioned it was however now I can not discover it.
IMHO, Investing must be about residing the life you need, not avoiding the life you concern. |
Run, You Intelligent Boy! [9085]
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Re: Is this correct for AGI & MAGI?
The opposite poster is appropriate: AGI is earlier than both the usual deduction or itemized deductions. AGI is “Adjusted Gross Revenue”, which is mainly all your earnings minus any changes (which confusingly are generally referred to as deductions).
MAGI is Modified AGI. There are a variety of various MAGIs modified in several methods for various causes. However usually talking it is your AGI adjusted by numerous issues, generally by including again in sure untaxed objects.
