Agi là gì


Adjusted gross income (AGI) can directly impact the deductions và credits you are eligible for, which can wind up reducing the amount of taxable income you report on your tax return.

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AGI Overview

When preparing your tax return, you probably pay more attention lớn your taxable income than your adjusted gross income (AGI). However, your AGI is also worthy of your attention, since it can directly impact the deductions và credits you’re eligible for—which can wind up reducing the amount of taxable income you report on the return.


AGI calculation

The AGI calculation is relatively straightforward.

It is equal to the total income you report that’s subject lớn 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 khổng lồ 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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Adjustments khổng lồ income

Adjustments to lớn income are specific deductions that directly reduce your total income khổng lồ arrive at your AGI. The types of adjustments that you can deduct are subject to lớn change each year, but a number of them consistently show up on tax returns year after year. Some of these adjustments include:

half of the self-employment taxes you payalimony payments made khổng lồ a former spouse (for agreements prior to lớn 2019)contributions to certain retirement accounts (such as a traditional IRA)

Impact on deductions and credits

Many of the deductions and credits that taxpayers commonly take advantage of each year are subject to lớn AGI limitations. If you itemize deductions, for example, you must reduce your medical & dental expenses by 7.5% of your AGI for 2020 meaning that you can only deduct the amount that exceeds 7.5% of your AGI. Therefore, the lower your AGI is, the more of your medical & dental expenses you can deduct.

Even some of your adjustments to income are subject to lớn AGI limitations despite the fact that those deductions are necessary khổng lồ calculate your AGI. If you’re eligible to deduct some of your tuition payments, your modified adjusted gross income (MAGI) determines whether you qualify.

Other AGI implications

If you live in a state that requires you lớn file annual income tax returns, your AGI can also impact your state taxable income. This is because many states use your federal AGI as the starting point for calculating your state taxable income. And if you claim a tax credit, such as the lifetime learning credit, for your school expenses, the IRS requires that your MAGI be below certain thresholds in order to claim the credit.

When you use to lớn prepare your taxes, we’ll ask you simple questions about your income và walk you step-by-step through the available adjustments to income & other deductions. We handle all the calculations for AGI & MAGI và determine exactly how this impacts your other deductions & credits.