calculating Modified adjusted gross income (MAGI)

[MikeWaters]

http://en.wikipedia.org/wiki/Adjusted_Gross_Income

Based on this article, it seems to me that charitable contributions cannot be deducted from your MAGI. (i.e. tithing).

What is correct?

[Mormon Red Death]

Originally Posted by MikeWaters

http://en.wikipedia.org/wiki/Adjusted_Gross_Income

Based on this article, it seems to me that charitable contributions cannot be deducted from your MAGI. (i.e. tithing).

What is correct?

http://www.irs.gov/publications/p590/ch02.html

this officially answers your questions. From what I gather charitable donations are not included in the MAGI (there might be an exception).

[MikeWaters]

So this is what it says:

1.

Traditional IRA deduction,
2.

Student loan interest deduction,
3.

Tuition and fees deduction,
4.

Foreign earned income exclusion,
5.

Foreign housing exclusion or deduction,
6.

Exclusion of qualified bond interest shown on Form 8815,
7.

Exclusion of employer-provided adoption benefits shown on Form 8839, and
8.

Domestic production activities deduction from Form 1040, line 35, or Form 1040NR, line 33.

So this means that I cannot deduct tithing from my MAGI, I gather?

[Mormon Red Death]

Originally Posted by MikeWaters

So this is what it says:



So this means that I cannot deduct tithing from my MAGI, I gather?

i'm not a tax guy but it seems to be correct. find a good tax guy and get this answered definitively for $300