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jbarran15
New Member

How is the Federal adjusted gross income calculated?

 
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2 Replies
GiseleD
Expert Alumni

How is the Federal adjusted gross income calculated?

The 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, dividends and interest from a bank account—minus specific deductions, or “adjustments” that you’re eligible to take.
  • Your AGI is calculated before you take the standard or itemized deductions —which you report in later sections of the return.
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How is the Federal adjusted gross income calculated?

Here is a blank 1040 return.  You can see what adds up to the AGI on line 8b.   https://www.irs.gov/pub/irs-pdf/f1040.pdf 

 

Or do you need your 2018 AGI to efile 2019?

You need your 2018 AGI to efile 2019. The AGI is on 2018 1040 line 7. If you filed a Joint return you use the same AGI for each spouse How to find the AGI.
https://ttlc.intuit.com/community/agi/help/how-do-i-find-last-year-s-agi/01/25947

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