The stochastic Liouville equation is applied to the field of organic magnetoresistance to perform detailed microscopic calculations on the different proposed models. By adapting this equation, the influence of a magnetic field on the current in bipolaron, electron-hole pair, and triplet models is calculated. The simplicity and wide applicability of the stochastic Liouville equation makes it a powerful tool for interpreting experimental results on magnetoresistance measurements in organic semiconductors. New insights are gained on the influence of hopping rates and disorder on the magnetoresistance.