Where to find your agi on 1040

Adjusted gross income, or AGI, is your gross income minus certain adjustments. The IRS uses this number as a basis for calculating your taxable income. AGI can also determine which deductions and credits you may qualify for.

How is adjusted gross income calculated?

Adjusted gross income is your gross income — which includes wages, dividends, alimony, capital gains, business income, retirement distributions and other income — minus certain payments you’ve made during the year, such as student loan interest or contributions to a traditional individual retirement account or a health savings account.

In general, the formula for calculating AGI is to determine your gross income. This includes income from:

• Certain business expenses.

• Deductible HSA contributions.

• Moving expenses for military.

• Deductible self-employment taxes.

• Contributions to retirement plans or health insurance for self-employed people.

• Penalties on early withdrawals of savings.

• Deductible IRA contributions.

• Deductible tuition and fees.

Tax software or your tax preparer will calculate your adjusted gross income as part of the process of preparing your tax return.

Where is AGI on a tax return?

You can find your adjusted gross income right on your IRS Form 1040. On your federal tax return, your AGI is usually on line 11 of your Form 1040.

The significance of adjusted gross income

Your AGI is often the starting point for calculating your tax bill. From there, you’ll make various adjustments and subtract your allowable deductions to find the amount on which you’ll pay tax: That's your taxable income. You’ll see the term “adjusted gross income (AGI)” repeated throughout your tax forms.

Your state tax return might also use your federal AGI as a starting point. If you file taxes online, your software will calculate your AGI.

What is your modified adjusted gross income (MAGI)?

According to the IRS, for most taxpayers, modified adjusted gross income, or MAGI, is simply adjusted gross income before subtracting deductible student loan interest.

If you’re filing Form 1040 and itemizing so that you can take certain deductions, you may have to calculate your MAGI. It can also be a baseline for determining the phaseout level of some credits and tax-saving strategies, and sometimes the formula for MAGI can depend on the type of tax benefit it applies to.

When it comes to below-the-line deductions, you might be aware that you can lower your taxable income – and therefore, the taxes you owe – by taking the standard deduction or itemizing your deductions, depending on your specific tax circumstances. But you may also be able to lower your tax bill thanks to the above-the-line tax adjustments used to calculate your AGI.

There are at least 10 above-the-line AGI adjustments, but most people only qualify for a few.2 Some of the more common adjustments taxpayers use to lower their AGI include:

• IRA and other retirement plan contributions.
• Student loan interest.
• Self-employment taxes.
• Educator expenses.
• Health savings account (HSA) contributions.

In general, the lower your AGI, the greater the chance you’ll qualify for tax credits and certain itemized deductions.

It’s important to note that requirements for many below-the-line adjustments, tax credits, and itemized deductions can be very specific and are subject to income thresholds. This means that tax benefits might be reduced or limited if your AGI or MAGI (depending on the tax benefit) is above a certain level. When it comes to the medical and dental expense deduction, for example, the IRS will let you deduct a portion of qualifying medical expenses that exceed 7.5% of your AGI. So if your AGI is $50,000, you can only deduct medical expenses that exceed $3,750. This means that if you have $6,000 in medical expenses, $2,250 would be deductible.3

Requirements are also subject to change each year, so be on the lookout for new laws before filing your taxes.

If your prior-year tax return has not yet been processed, enter $0 (zero dollars) for your prior year adjusted gross income (AGI).

If you used the Non-Filers tool in 2021 to register for an advance Child Tax Credit payment or third Economic Impact Payment in 2021, enter $1 as your prior year AGI. 

If you’re e-filing your return, the IRS will verify your identity by using your personal tax information from the previous year. Specifically, when you file your return, the IRS compares these two things to see if they match:

• The prior-year adjusted gross income (AGI) you entered
• Your prior-year tax records

If these don’t match, the IRS will reject your return. In most cases, you can easily fix this issue and successfully e-file your return again.

How do you get your AGI from last year? You can locate your prior-year AGI on your 2021 return on Form 1040, Line 11.

How to Locate Your Previous Year AGI If You Don’t Have Access to Your Return

If you can’t find your prior-year AGI, you have a couple of options. You’ll need to request a copy of a return for 2021 from the IRS, which you can do any of these ways:

• View or download a transcript of your return online at www.irs.gov.
• Go to www.irs.gov and request a hard copy transcript of your return be mailed to you. This will take 5-10 business days.
• Call the IRS at 800-908-9946 and request a hard copy transcript be mailed to you. This will take 5-10 business days.

If you and your spouse filed jointly last year, your spouse’s AGI will be the same as yours. If your spouse had a different AGI, you’ll need his or her information to get their AGI from the IRS.

How do I find my AGI from last year?

How do I find my AGI?

What is the AGI on my tax return?