How Do You Figure Out Adjusted Gross Income?
Your federal adjusted gross income is your gross income from all income sources minus specifically stated IRS deductions. These deductions are not the standardized or itemized deductions. Your AGI is used to determine your tax liability and what other benefits and programs you may be eligible for. Look At Last Year’s Tax Return If you need your adjusted gross income from last year dig out your tax return from last year and look at the very last number on the first page of your 1040 tax return. This is your Adjusted Gross Income. If you need to figure out the AGI for this year proceed to step 2. Use an Online Calculator Search online for an adjusted gross income calculator or click on the link I have provided below. Enter in Values in All Fields of the AGI Calculator Complete the calculator fields with your income from all sources and any of the deductions you may have. Remember the deductions are not the same as your itemized or standard deduction on your 1040. They are deductions like
