I need help getting my AGI

AGI or Adjusted Gross Income is your taxable income that is used to determine your Net Taxes. In other words, it is the sum total of your income from all sources after considering all the applicable adjustments/ deductions. To put it simply, it is the amount on which you have to pay your Income Tax. It is the basis of tax calculation to determine your Tax Liability. Not only that, IRS uses your last year’s AGI as a means of identification for E-filing your Tax Return. Apart from that, it also determines a number of deductions and credits which directly impacts your tax liability. In general, the lower the amount of AGI, higher will be your chances to get these deductions and credits. This means it will lower the actual tax that you will have to pay. 

As such, it clearly establishes the importance of your AGI. It has to be calculated to get your tax liability for the current year. Besides that, if you want to E-file your Tax Return. Then, you must have your AGI for the previous year’s Tax Return. 

I need help getting my AGI

How To Get Last Year’s AGI?

As stated above, AGI is essential for e-filing your Tax Returns. You can easily acquire the same from the form used to file the last year’s return. Given below is the exact location of the AGI on the specific forms. Different versions of Form 1040 are used for different Tax Year. Hence, check accordingly for your Previous Year’s AGI. 

  • Line 8b on Form 1040 or 1040-SR for tax year 2019
  • Check Line 7 on Form 1040 for tax year 2018
  • Locate Adjusted Gross Income at Line 21 of Form 1040A or Line 4 on Form 1040EZ for tax years prior to 2018
  • In case of Form 1040NR, check Line 35. 

Unable To Get Last Year’s AGI.

However, if you are not able to acquire your last year’s Tax Form or cannot locate your AGI on it. Then, you can directly ask the IRS for the same. The IRS gives you two options. Either you can get a free Transcript of your last year’s Tax Return. You can order the same from the “Get Transcript” page of the official website of IRS i.e. “irs.gov/individuals/get-transcript”. Or, you can purchase a full copy of your Tax Return. Both options will give you access to your last year’s Adjusted Gross Income. However, both these options will take around 5-10 business days.

Get Last Year’s AGI For TurboTax Users 

For the users of TurboTax, all this is extremely convenient. If you have e-filed your last year’s Tax Return on TurboTax, you can easily access your Return and Adjusted Gross Income. 

  1. To begin with, launch your TurboTax Application on your system. In case of TurboTax Online, go to the TurboTax Online Portal.
  2. Sign In to your TurboTax Account. Make sure to access the same Account that was used to file your last year’s Tax Return. 
  3. Now, locate the “Your tax returns & documents” section. 
  4. Beneath that, click “View adjusted gross income (AGI)”.
  5. As a result, it will display the required AGI on your screen.
  6. If you need any help related to the Turbotax then you can contact Turbotax Support