what is adjusted gross income, and how does it affect the income tax I have to pay for 2024?

Adjusted Gross Income (AGI) is the total income reported on your tax return (wages, self-employment income, interest, dividends, capital gains, and any other form of income) minus adjustments (such as student loan interest, alimony payments, or retirement account contributions). 

For additional information, please review the TurboTax article What is Adjusted Gross Income (AGI)?

You aren't adjusting the income from 2023. When you e-file, the IRS may ask for your AGI from last year’s return in order to verify your identity.

You can find your AGI on line 11 of your 2023 1040. For more information, refer to the TurboTax Help article How to Find Your Adjusted Gross Income (AGI) to E-file Your Tax Return.