Then, you subtract your Adjustments to Income, which includes Educator expenses, Student loan interest, Alimony payments or contributions to a retirement account. To work out this calculation you should add up all the elements that make up your Gross Income, which includes wages, dividends, capital gains, business income, retirement distributions and some other income. What is Adjusted Gross Income?Īt its simplest, Adjusted Gross Income (AGI) is gross income minus Adjustments to Income. That's often the case with Adjusted Gross Income, so we're going to break down what exactly this is and how to find it through the W2 form. Even if some of these terms are familiar, many have forgotten what they mean exactly. As Americans take the time to file their tax returns for the 2021 tax year, many complex terms come up in that process.
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