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MAGI takes your AGI and adds back specific items, such as certain foreign income exclusions. It is the figure that determines whether you can contribute to a Roth IRA, deduct a Traditional IRA, or face certain surtaxes. Because it can include add-backs that AGI excludes, MAGI is often slightly higher than AGI.
Roth IRA contribution eligibility phases out based on MAGI, not on AGI alone.
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