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Using the MAGI calculator is a simple process of inputting figures into the necessary fields. Supposing you want to calculate your MAGI to determine your qualification for the Health care tax credit, this is how you can go about it: Compute your AGI — you can use the AGI calculator to do...
To calculate MAGI, you’ll take your AGI and “add-back” certain deductions. Given that this is how MAGI is calculated, your MAGI will always be equal to or more than your AGI. How can you reduce your AGI (and MAGI)? The IRS uses your AGI and MAGI to determine w...