BenefitsLink Message Boards > What is included in (MAGI)?

Full Version: What is included in (MAGI)?

BenefitsLink Message Boards > Retirement Plans > IRAs and Roth IRAs

BThaler

Dec 5 1998, 05:24 PM

Are tax exempt income and/or capital gains included in modified adjusted gross income (MAGI).
For example: An individual has salaries and capital gains equaling $90M. If tax exempt income is $50M, do they still qualify to CONVERT an existing IRA to the Roth?

BPickerCPA

Dec 6 1998, 10:16 AM

Cap gains ARE included, tax exempt interest income is NOT.

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