Work out your adjusted gross income the way Form 1040 does: total income from every source, minus above-the-line adjustments such as HSA, IRA, student loan interest and half of self-employment tax. You also get the modified AGI figures used for Roth IRA limits, ACA subsidies and other phase-outs.
Last updated:
Filing details
Income
$
W-2 box 1 (already after pre-tax 401(k) and health premiums).
$
$
$
Schedule C net profit (negative for a loss).
$
Losses beyond $3,000 carry forward.
$
Include any Roth conversion amount.
$
Gross SSA-1099 box 5; the taxable part is figured for you.
$
Net, after expenses (negative for an allowed loss).
Your own contributions, not those made through payroll.
$
$
Up to $2,500.
$
K-12 teachers: $300 each.
$
From Schedule SE.
$
$
$
$
$
Moving expenses for military, certain other Schedule 1 items.
For MAGI (not part of AGI)
$
Municipal bond interest.
$
$
Enter your values to see the result.
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How to use the AGI Calculator
Choose the tax year and filing status.
Enter each income source for the year. Use W-2 box 1 for wages and net profit or loss for business and rental income.
Enter your adjustments, such as HSA, deductible IRA, student loan interest and self-employed retirement contributions.
Add MAGI items like tax-exempt interest or Roth conversion income if they apply.
Press Calculate AGI to see your AGI, the MAGI figures and the full worksheet.
The AGI formula
AGI = total income − adjustments to income. Total income is the sum of Form 1040 lines 1 through 8; adjustments come from Part II of Schedule 1.
Example (2026, single): $72,000 wages + $400 interest + $600 dividends + $12,000 freelance profit + $1,500 capital gain = $86,500 total income. Adjustments: $3,000 HSA + $1,800 student loan interest + $2,000 SEP + $848 half of SE tax = $7,648. AGI = $78,852.
Which MAGI do you need?
Used for
Start with AGI, then
Roth IRA contribution limit
+ IRA deduction, student loan interest, foreign income exclusion; − Roth conversion income
Traditional IRA deduction limit
+ IRA deduction (figure without it), student loan interest, foreign exclusion
ACA premium tax credit, Medicaid
+ tax-exempt interest, untaxed Social Security, foreign exclusion
Tips, overtime and senior deductions
+ excluded foreign earned income
Net investment income tax (3.8%)
+ excluded foreign earned income
Medicare IRMAA surcharges
+ tax-exempt interest (uses the return from two years earlier)
Common above-the-line adjustments
HSA contributions you made yourself (payroll contributions are already out of box 1).
Half of self-employment tax: 7.65% of 92.35% of net profit, up to the Social Security wage base ($184,500 in 2026).
Self-employed retirement (SEP-IRA, SIMPLE, solo 401(k)) and self-employed health insurance.
Deductible traditional IRA contributions, subject to their own income limits if you have a workplace plan.
Student loan interest up to $2,500, phased out at higher incomes.
Educator expenses up to $300 per eligible K-12 educator.
Frequently asked questions
What is adjusted gross income (AGI)?
AGI is your total income from all taxable sources minus specific adjustments (often called above-the-line deductions). It is line 11 of Form 1040 and is the starting point for taxable income, and many credits and deductions are limited by it.
How do I calculate my AGI?
Add wages, interest, dividends, business profit, capital gains, taxable retirement distributions, the taxable part of Social Security, rental income, unemployment and other income. Then subtract adjustments such as educator expenses, HSA contributions, half of self-employment tax, self-employed health insurance and retirement plans, deductible IRA contributions, student loan interest and pre-2019 alimony.
What is the difference between AGI and MAGI?
Modified AGI starts from AGI and adds back certain items, and the add-backs depend on what it is used for. Roth IRA MAGI adds back IRA deductions and student loan interest and removes Roth conversion income. ACA MAGI adds tax-exempt interest, untaxed Social Security and excluded foreign income. For many people with only wages, AGI and MAGI are the same.
Are 401(k) contributions subtracted from AGI?
Yes, but indirectly. Traditional 401(k), 403(b) and payroll health premiums are already removed from W-2 box 1, so you do not subtract them again. Enter your box 1 wages and the calculator handles the rest.
Do the standard deduction and itemized deductions reduce AGI?
No. They are subtracted after AGI to get taxable income. The newer deductions for tips, overtime, car loan interest and seniors are also taken after AGI, so they do not change it.
How much of my Social Security is included in AGI?
Between 0% and 85%. If your provisional income (other income plus tax-exempt interest plus half of benefits) is under $25,000 single or $32,000 joint, none is taxable. Above that, up to 50% and then up to 85% of benefits become taxable. The thresholds are not adjusted for inflation.
Where do I find my AGI from last year?
It is on line 11 of your Form 1040. You may need it to verify your identity when e-filing, and lenders and financial aid forms often ask for it too.
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