How To Find My Adjusted Gross Income

How To Find My Adjusted Gross Income
How To Find My Adjusted Gross Income
Adjusted Gross Income.

The Adjusted Gross Income (AGI) calculation depends on the tax return form you use; some forms allow you to take more adjustments to income, than others. How To Find My Adjusted Gross Income?

When you file a tax return, you will always see a line to figure out your adjusted gross income, or AGI, before arriving at your taxable income number. The AGI calculation depends on the tax return form you use; some forms allow you to take more adjustments to income, than others.

Adjusted gross income, or AGI, can be useful to know for several reasons. For example, eligibility for some lucrative tax deductions and credits is determined by AGI, as is eligibility to contribute to certain types of retirement accounts. (If you want to learn more about retirement accounts, or any other type of investment, head to our Broker Center, where we’ll help you get started.)

If you have not yet received your W-2 from your employer, you can calculate your AGI using information from your last pay stub of the year.

How to calculate AGI.

How To Find My Adjusted Gross Income
Adjusted Gross Income.

First, locate your year-to-date earnings on your pay stub. This is the total amount you earned before any taxes or deductions came out of your paychecks.

Once you’ve found that, add up all of your pre-tax deductions for the year. These generally include insurance (health, dental, vision, life, etc.), 401(k) or other retirement contributions, and employer-paid public transportation costs. Add these together, and then subtract from your total earnings.

If you had any other income for the year, such as from self-employment or unemployment compensation, add this to the total as well.

Next, you’ll need to add up your deductions. AGI only takes a few specific tax deductions into account, including:

  • Health Savings Account (HSA) contributions
  • Educator expenses (up to $250)
  • Qualified moving expenses
  • Contributions to a traditional IRA or other pre-tax retirement account such as a SEP IRA or SIMPLE IRA (remember that 401(k) contributions were already accounted for)
  • Alimony you paid
  • One-half of the self-employment tax
  • Tuition and fees (Note that you can claim a tuition and fees deduction or an education tax credit, not both. If you plan to claim either the American Opportunity Credit or Lifetime Learning Credit, do not subtract tuition and fees for AGI purposes.)
  • Student loan interest.

Again, not all of these will apply to everyone, and there are a few other less common AGI deductions. However, for the vast majority of taxpayers, the deductions listed here are sufficient to calculate AGI.

Finally, add up these deductions and subtract it from the total in the previous step. Combining the steps into one formula looks like this:

Where is my AGI located on last year’s return?

How To Find My Adjusted Gross Income
Adjusted Gross Income.

The AGI you should use to sign your current year return can be found on the following lines of your prior year return (round this amount to the nearest whole dollar):

Forms:

  • 1040, Line 38.
  • 1040A, Line 21.
  • 1040EZ, Line 4.

*Note: For most Married Filing Joint filers who filed a joint return last year, your prior year AGI will be the same for both taxpayers, even if one did not work.

If you did not file a federal tax return last year or filed after October 15th: Select ‘No’ when asked if you filed a return last year. The program will automatically enter ‘0’ for your Prior Year AGI amount as the IRS does not have an amount listed in their database.

If you are under 16 years of age and filing for the first time, you will be required to print, sign, and mail the return to the IRS. IRS mailing address can be found here listed by your state and form type. 

How To Find My Adjusted Gross Income

How do I get my original AGI if I cannot locate my last year’s return?

To retrieve your original AGI from your previous year’s tax return you may do one of the following:

  • Use the IRS Get Transcript Online tool to immediately view your Prior Year AGI. You must pass the IRS Secure Access identity verification process. Select the Tax Return Transcript option and use only the “Adjusted Gross Income” line entry.
  • Contact the IRS toll free at 1-800-829-1040.
  • Complete Form 4506-T Transcript of Electronic Filing at no cost.
  • Complete Form 4506 Copy of Income tax Return.

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