Motivation is a powerful process that shapes decision-making and goal-directed behavior in daily life, yet the precise neural and computational mechanisms that underlie the interaction between motivation and cognitive control are not well understood. An outstanding question relates to the integrated and dissociable influences of diverse incentives on cognitive control allocation. In my talk, I will present data from two lines of research that address the following questions: 1) How are different categories of incentives (e.g., primary, secondary) integrated to influence cognitive control task performance? And 2) To what extent does the valence of incentives (e.g., positive vs negative) differentially influence the type of effort strategy utilized during cognitive control allocation? First, I will present findings from a human fMRI study utilizing a novel incentive integration paradigm which provides a powerful investigative tool to examine the integrated influence of monetary rewards and liquid incentives (e.g., juice, neutral solution, saltwater) on cognitive task performance. We find evidence that the dorsal anterior cingulate cortex encodes the subjective motivational value signal of “bundled” incentives (i.e., a “neural common currency” reflecting the combined value from monetary and liquid incentives) to modulate motivated task performance. Next, I will present results from behavioral and fMRI studies utilizing an innovative self-paced incentivized Stroop task examining how monetary rewards versus penalties guide divergent strategies for adaptive control allocation. Using a normative model based on the Expected Value of Control, we find a striking dissociation in that reward incentives facilitate attention-related strategies (increased drift rate), whereas penalty incentives facilitate inhibition-related strategies (increased threshold). Preliminary fMRI results suggest dissociable neural mechanisms underlie both attention-related and inhibition-related strategies. Finally, I highlight current directions investigating how such motivation-control interactions change across the adult lifespan, and how a greater understanding of these interactions may help inform motivation-related impairments in psychiatric disorders (e.g., depression, anxiety).