Calculate your Adjusted Gross Income (AGI) with all income sources and above-the-line deductions for accurate tax planning and filing.
Adjusted Gross Income (AGI) is one of the most important numbers on your tax return. It determines your eligibility for numerous tax credits, deductions, and benefits. AGI is calculated by taking your total gross income and subtracting specific "above-the-line" deductions — adjustments you can claim regardless of whether you itemize deductions.
Your AGI affects everything from your ability to contribute to a Roth IRA to whether you qualify for education credits, the Child Tax Credit phase-out, and even your Medicare premiums. Understanding and strategically managing your AGI can lead to significant tax savings across multiple areas of your financial life.
This AGI calculator accounts for all major income sources including wages, self-employment income, interest, dividends, and capital gains. It also computes all common above-the-line adjustments such as IRA contributions, student loan interest, HSA deductions, and educator expenses. The self-employment tax deduction is automatically calculated when applicable. Check the example with realistic values before reporting.
Knowing your AGI before filing helps you plan contributions, identify deduction opportunities, and avoid surprises. This calculator instantly shows how each income source and deduction affects your AGI, letting you model scenarios and optimize your tax position. Keep these notes focused on your operational context. Tie the context to the calculator’s intended domain. Use this clarification to avoid ambiguous interpretation.
AGI = Gross Income − Above-the-Line Deductions Where: - Gross Income = Wages + Self-Employment + Interest + Dividends + Capital Gains + Other - Above-the-Line Deductions = IRA + Student Loan Interest (max $2,500) + HSA + Educator (max $300) + SE Tax Deduction + Alimony - SE Tax Deduction = (Self-Employment Income × 0.9235 × 0.153) / 2
Result: $62,650 AGI
With $75,000 in wages, a $6,500 IRA deduction, $2,500 student loan interest deduction, and $3,850 HSA deduction, the total adjustments are $12,850, resulting in an AGI of $62,150.
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Gross income is your total income from all sources. AGI is gross income minus above-the-line deductions. AGI is always less than or equal to gross income.
AGI determines eligibility for many tax credits and deductions including the Child Tax Credit, education credits, Roth IRA contributions, and itemized deduction phase-outs. Use this as a practical reminder before finalizing the result.
These are deductions subtracted from gross income to arrive at AGI. They can be claimed even if you take the standard deduction, unlike itemized deductions.
AGI appears on Form 1040, Line 11. Your prior year AGI is often needed to e-file your return as an identity verification measure.
Contribute to a Traditional IRA or HSA, maximize educator expenses, pay student loan interest, and consider timing income and deductions across tax years. Keep this note short and outcome-focused for reuse.
Modified AGI (MAGI) starts with AGI and adds back certain deductions like student loan interest and IRA contributions. Different tax provisions use different MAGI calculations.