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What is adjusted gross income?
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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 (e.g., student loan interest, Alimony paid, IRA deduction, etc.)
- Your AGI is calculated before you take the standard or itemized deductions —which you report in later sections of the return.
What is Adjusted Gross Income (AGI)?: https://turbotax.intuit.com/tax-tips/irs-tax-return/what-is-adjusted-gross-income-agi/L2C6rCEit
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