Finance

AGI Calculator

Calculate your Adjusted Gross Income by subtracting above-the-line deductions from total income.

Income Sources

Wages & Salary ($)

Interest Income ($)

Dividends ($)

Business Income ($)

Capital Gains ($)

Other Income ($)

Above-the-Line Deductions

IRA Contributions ($)

Student Loan Interest ($)

HSA Contributions ($)

Self-Employment Tax (½) ($)

Other Adjustments ($)

Formula:
AGI = Total Income − Above-the-Line Deductions

What is AGI?

Adjusted Gross Income (AGI) is your total gross income minus specific deductions (called "above-the-line" deductions). AGI is on line 11 of your Form 1040 and determines eligibility for many tax credits and deductions.

Why AGI Matters

Your AGI affects: eligibility for Roth IRA contributions, child tax credit phase-outs, student loan interest deduction, medical expense deductions (must exceed 7.5% of AGI), and many state tax calculations.

Common Above-the-Line Deductions

Traditional IRA contributions (up to $7,000 in 2024, $7,500 if 50+)
Student loan interest (up to $2,500)
HSA contributions ($4,150 individual / $8,300 family in 2024)
Half of self-employment tax
Self-employed health insurance premiums
Educator expenses (up to $300)