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2. Before You File Your Taxes, Here Are 21 Tax Terms You ... - AOL

   www.aol.com/file-taxes-21-tax-terms-120049162.html

   Modified Adjusted Gross Income (MAGI) ... you’ll take the standard deduction. This will help reduce your taxable income. The standard deduction amount depends on your filing status, and the ...

3. Adjusted Gross Income: What It Is and How To Calculate ... - AOL

   www.aol.com/adjusted-gross-income-calculate...

   Your W-2 does not list your adjusted gross income, but it contains the information you need to calculate your AGI. Box 1 lists your total income earned from your employer .

4. Adjusted Gross Income (AGI) vs. Modified Adjusted Gross ... - AOL

   www.aol.com/finance/adjusted-gross-income-agi-vs...

   Tax Deductions and credits: MAGI is used to determine eligibility for tax deductions and credits like the student loan interest deduction and the tuition and fees deduction. Additionally, it’s ...

5. Adjusted gross income - Wikipedia

   en.wikipedia.org/wiki/Adjusted_gross_income

   Adjusted gross income is gross income less deductions from a business or rental activity and 21 other specific items. Several deductions (e.g. medical expenses and miscellaneous itemized deductions) are limited based on a percentage of AGI. Certain phase outs, including those of lower tax rates and itemized deductions, are based on levels of AGI.

6. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   Under United States tax law, the standard deduction is a dollar amount that non-itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount of tax ...

7. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   If the amounts of the itemized deductions and the standard deduction do not differ much, the taxpayer may take the standard deduction to reduce the possibility of adjustment by the Internal Revenue Service (IRS). The amount of the standard deduction cannot be changed following an audit unless the taxpayer's filing status changes.

8. How Do I Calculate Modified Adjusted Gross Income For ... - AOL

   www.aol.com/calculate-modified-adjusted-gross...

   The IRS uses your modified adjusted gross income (MAGI) to determine whether you qualify for important tax benefits like deducting contributions from your individual retirement account (IRA) and ...

9. What Is Adjusted Gross Income & Why Does It Matter? - AOL

   www.aol.com/finance/adjusted-gross-income-why...

   Some of the most common terms that pop up mainly in regard to taxes include gross income, adjusted gross income (AGI) and modified adjusted gross income (MAGI). The Economy and Your Money: All You ...