Your MAGI (modified adjusted gross income) is your AGI plus certain deductions you must “add back.” These deductions include IRA contributions, student loan interest, one-half of self-employment tax, qualified tuition expenses, and more.Your AGI (adjusted gross income) is all of the income you bring in, minus certain adjustments, including IRA and self-employed retirement plan contributions, alimony payments (for divorce agreements prior to 2019), and one-half of any self-employment taxes paid.
