No. of Recommendations: 2
AGI, adjusted gross income, is the amount entered on line 33 of Form 1040. That is after all of your other income from investments is added and many deductions like IRA contributions and alimony payments are deducted.

Yes, in estimating your income for Roth IRA purposes, Block 1 is the right one to use, but you really want the line 33 value. But not to worry, if you think your income allows a contribution, make the contribution and then learn your income was greater than expected, you can still recharacterize the contribution as a traditional IRA contribution.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.