Transcranial magnetic stimulation (TMS) is a noninvasive neuromodulation technique with both diagnostic and therapeutic clinical applications. Its capacity to facilitate lasting neuroplastic changes has led to a growing number of treatment indications cleared by the US Food and Drug Administration (FDA), including major depressive disorder (MDD), migraine headaches, obsessive compulsive disorder, and smoking cessation. In 2020, the FDA granted breakthrough device designation to TMS for treating bipolar depression. This is not a formal approval, but it indicates interest, is generally supported by evidence, and provides an expedited path for FDA review.Broadly speaking, TMS is not a therapy but rather a tool. However, when it is applied over a specific brain target using specific parameters that facilitate specific neurophysiological changes, then TMS has the potential to become a treatment. Choosing a different target or changing other