Modified Adjusted Gross Income (MAGI)

Business / Taxes / Modified Adjusted Gross Income (MAGI): Your modified adjusted gross income (MAGI) is your adjusted gross income (AGI) plus deductions, such as college loan interest and contributions to a deductible individual retirement account (IRA), which you may qualify to take if your MAGI is less than the annual ceilings set by Congress. Other deductions, such as alimony, don’t have income limits. For example, suppose you’re single, have a gross income of $51,000, and you’re eligible to take a deduction for your IRA contribution of $4,000. Your AGI, when all deductions are taken, turns out to be $45,500. You then add the $4,000 back to find your MAGI of $49,500. Because your MAGI is less than the ceiling for deducting your full IRA contribution for your filing status, which is $50,000 if you are single, you can take the full deduction.

Other Words for Gross

Gross Noun Synonyms: fat, obese, corpulent, overweight, big, large, bulky, great, heavy, ponderous, massive, cumbersome, unwieldy
Gross Adjective Synonyms: coarse, vulgar, crude, unsophisticated, uncultured, uncultivated, earthy, crass, indelicate, indecent, inappropriate, unseemly, improper, unrefined, bawdy, ribald, Rabelaisian, raw, rude, offensive, obscene, lewd, dirty, smutty, pornographic, filthy
Gross Verb Synonyms: total, aggregate, entire, pre-tax, (all-)inclusive, overall, whole
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Other Words for Income

Income Adjective Synonyms: return, revenue(s), receipts, proceeds, profit(s), gain(s), takings
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Modified Adjusted Gross Income (MAGI)

Business / Taxes / Modified Adjusted Gross Income (MAGI): Your modified adjusted gross income (MAGI) is your adjusted gross income (AGI) plus deductions, such as college loan interest and contributions to a deductible individual retirement account (IRA), whi MORE

Modified American Plan ( Map)

Life Style / Travel / Modified American Plan ( Map): A meal plan that includes two or more daily meals, usually breakfast and dinner. MORE

Modified Duration

Business / Finance / Modified Duration: The ratio of Macaulay duration to (1 + y), where y = the bond yield. Modified duration is inversely related to the approximate percentage change in price for a given change in yield. MORE

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