In latter 90s more and more folk were getting on the internet.
So they started up some sites selling everything from pet supplies to music CDs. The philosophy of a few of these dot-coms was If we build a domain ! folk will come and buy all our stuff. So that the dot-coms beginning borrowing millions of dollars from the banks and went public with their stock so they could build their sites. The MAGI is figured out by adding some discounts to your AGI. One example of a MAGI can be seen in the calculations for the scholar loan interest deduction. This MAGI is worked out by adding your AGI, the teaching and charges reduction and diverse foreign incomes and costs. When you figure out your AGI and MAGI, it's going to be way easier to ascertain which tax benefits you qualify for. Occasionally your AGI will be too high for you to make a claim a certain credit.