How to use Adjusted gross income in a sentence
The MAGI is your Adjusted Gross Income plus any deductions you might be taking on your tax return for student loans, higher education costs, IRA contributions or foreign housing.
Eligibility - The maximum modified adjusted gross income (MAGI) for single taxpayers is $75,000 and $150,000 for married couples.
The MAGI is a taxpayer's adjusted gross income plus the amount of any tax deductions such as IRA contributions, student-loans and college costs.
The general guideline is that you can give up to 50% of your adjusted gross income in cash contributions, and 30 percent for property.Advertisement