Your adjusted gross income (AGI) is the total amount of income and earnings you earned during the tax year minus certain income adjustments. The AGI calculation varies depending on the tax return form you use; some forms allow for more adjustments to your income than others. To find your AGI for the previous year, refer to the tax return you filed last year. Throughout your tax return form, there are many opportunities to make deductions, some of which reduce your total income to determine the AGI and others are included in later parts of the return.
When preparing and filing your taxes electronically, you must sign and validate your electronic tax return by entering your adjusted gross income (AGI) from the previous year or your self-selection PIN from the previous year. Your AGI will never exceed the total income you report in the first few lines of your tax return and, in many cases, will be lower. When you file a tax return, you'll always see a line to calculate your adjusted gross income, or AGI, before you reach your taxable income number. With TurboTax, you can be sure that your taxes are done correctly, from simple to complex tax returns, no matter what your situation is.
