The Adjusted Gross Income (AGI) calculation is relatively straightforward.
- It is equal to the total income you report that’s subject to income tax—such as earnings from your job, self-employment, alimony income and interest from a bank account—minus specific deductions, or “adjustments” that you’re eligible to take.
- Your AGI is calculated before you take exemptions and the standard or itemized deduction—which you report in later sections of the return.
For Example: If my income from my job and other income is $40,000 and my deductions is $5,000 then my AGI is $35,000 (which is reported on Form 1040
– Line 37 Form 1040A
– Line 21 Form
1040EZ – Line 4 Form
1040NR – Line 36 and Form 1040X
– Line 1, Column A).
Here's a link with more information about AGI:https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-adjusted-gross-income-agi/L2C6rCEit
