📋 Adjusted Gross Income (AGI) Calculator
Calculate your Adjusted Gross Income (AGI) by starting with gross income and subtracting above-the-line deductions.
Why AGI Matters
AGI is used to determine eligibility for many deductions, credits, and programs. Many phase-outs are based on AGI: Roth IRA contributions, student loan interest deduction, child tax credit, medical expense deduction (7.5% of AGI floor), and more.
MAGI (Modified AGI) adds back some deductions — used for specific credits and Roth eligibility.
What Is Adjusted Gross Income (AGI)?
Adjusted Gross Income is your total gross income minus specific "above-the-line" deductions allowed by the IRS. It appears on Line 11 of Form 1040. AGI is the foundation of your tax return — nearly every subsequent calculation, from your standard deduction to eligibility for credits and other deductions, starts with AGI. The lower your AGI, the more tax benefits you typically qualify for.
AGI Formula
Gross Income = Wages + Self-Employment Income + Investment Income + Other Income
AGI = Gross Income − Above-the-Line Deductions
Above-the-line deductions are subtracted before you choose standard or itemized deductions — that's what makes them so powerful. You can claim them even if you take the standard deduction.
What AGI Determines
Your AGI gates eligibility for dozens of tax benefits. Traditional IRA deductibility phases out between $77,000–$87,000 AGI (single, 2024) if covered by a workplace plan. Roth IRA contribution eligibility begins phasing out at $146,000 AGI (single). The student loan interest deduction phases out at $80,000–$95,000. Child Tax Credit, Earned Income Credit, and ACA premium subsidies all use AGI or MAGI as their eligibility threshold. Reducing AGI by $1,000 can trigger eligibility for hundreds or thousands of dollars in additional tax benefits.
AGI vs MAGI — Key Difference
Modified Adjusted Gross Income (MAGI) is AGI with certain deductions added back. Different rules use different MAGI calculations — the Roth IRA MAGI adds back IRA deductions, student loan interest, and foreign income exclusions. The ACA MAGI adds back non-taxable Social Security benefits. For most middle-income earners, AGI and MAGI are the same or very close.
People Also Ask
AGI appears on Line 11 of Form 1040. On prior year returns it's also the number required to e-file and verify your identity with the IRS. Your AGI from last year's return is also used as the PIN when filing electronically this year.
Maximize above-the-line deductions: contribute the maximum to a traditional IRA ($7,000 in 2024, $8,000 if 50+), max out your HSA ($4,150 individual, $8,300 family), and if self-employed, deduct health insurance premiums and half of SE tax. Each dollar of AGI reduction is worth more than a dollar of itemized deduction because it also expands eligibility for phased-out benefits.
Yes — traditional 401(k) contributions are pre-tax and reduce your W-2 Box 1 wages, which lowers your gross income and therefore your AGI. However, they don't appear as an above-the-line deduction on your 1040 because they're already excluded from taxable wages on your W-2. Roth 401(k) contributions do NOT reduce AGI.
No — taxable income is AGI minus the standard deduction (or itemized deductions, whichever is larger), minus any QBI deduction. At $87,500 AGI with a $14,600 standard deduction (single 2024), taxable income would be $72,900. Taxable income is what your marginal tax rate is actually applied to.