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leeelliot61 · Joined: 13 Sep 2009 Posts: 188 0.01 Dollars($)

What is the meaning of modified adjusted gross income?

What is the way to calculate it?

jameshogg · Posted: Sun Oct 11, 2009 7:40 pm Post subject:

Hi leeelliot,

Modified adjustable gross income is the amount of income which determines how much can be deducted from an individual's IRA contribution. This is calculated by taking the individual's adjusted gross income and then adding certain items such as student-loan deductions, foreign income, foreign-housing deductions, IRA-contribution deductions and deductions for higher-education costs etc.

Thanks

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