AGI Calculator
Calculate your Adjusted Gross Income (AGI) for tax purposes
Income Sources
Adjustments to Income
Total Income
Total Adjustments
Adjusted Gross Income
Calculation Breakdown
Understanding Adjusted Gross Income (AGI)
Adjusted Gross Income (AGI) is your total gross income minus specific deductions, also known as "adjustments." It's an important number that determines your eligibility for certain tax benefits and is used as the starting point for calculating your taxable income.
Common AGI Adjustments
- Student loan interest deduction (up to $2,500)
- Self-employed health insurance and retirement plan contributions
- Traditional IRA contributions (subject to income limits)
- Health Savings Account (HSA) contributions
- Educator expenses (up to $300 per educator)
- Alimony payments (for divorce agreements before 2019)
- Self-employment tax (50% of self-employment tax paid)
Why AGI Matters
- Determines eligibility for tax credits and deductions
- Used to calculate Modified Adjusted Gross Income (MAGI)
- Affects eligibility for Roth IRA contributions
- Impacts health insurance subsidies and other benefits
- Required for various tax planning strategies
Note: This calculator provides estimates based on common income sources and adjustments. Actual AGI may vary based on your specific circumstances and additional income or adjustments not included here. Consult with a tax professional for accurate tax planning and AGI calculation.
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