Hey there, tax filer! Are you staring at your TurboTax screen, wondering where on earth to find that crucial "AGI" number? Don't worry, you're definitely not alone. This little three-letter acronym, Adjusted Gross Income, is a big deal when it comes to your taxes, not just for determining what you owe, but also for verifying your identity when you e-file.
Let's demystify it together, step-by-step, so you can confidently find your AGI in TurboTax and get on with your tax filing journey.
Understanding Your AGI and Why It Matters
Before we dive into where to find it, let's quickly clarify what AGI is.
Adjusted Gross Income (AGI) is essentially your total gross income (wages, salaries, dividends, capital gains, retirement distributions, etc.) minus certain "above-the-line" deductions. These deductions are taken before you calculate your taxable income and can include things like:
Student loan interest
Deductible IRA contributions
Educator expenses
Self-employed health insurance premiums
Half of your self-employment taxes
Why is AGI so important?
E-filing Verification: The IRS uses your AGI from your previous year's tax return to verify your identity when you e-file your current year's return. It's like a secret handshake with the IRS!
Eligibility for Tax Credits and Deductions: Many tax credits and deductions have income limitations tied to your AGI. A lower AGI often means you qualify for more tax breaks, potentially leading to a lower tax bill or a larger refund.
State Taxes: Many states use your federal AGI as a starting point for calculating your state taxable income.
Step 1: Determine Which Year's AGI You Need
This is a crucial first step. The AGI you need will depend on what you're trying to do.
Are you e-filing your current year's tax return? If so, the IRS will typically ask for your AGI from your previous year's tax return to verify your identity. For example, if you're filing your 2024 tax return (in 2025), you'll need your AGI from your 2023 tax return.
Are you trying to understand your AGI for your current tax year? TurboTax calculates this automatically as you input your income and deductions. You'll find it on your Form 1040 for the current year.
Take a moment to confirm which year's AGI is relevant to your current task.
Step 2: Finding Your AGI in TurboTax for a Previous Year
This is the most common scenario for needing to find your AGI. If you've used TurboTax before, you're in luck!
Sub-heading 2.1: Accessing Your Prior Year TurboTax Account
This is the easiest way if you used TurboTax for your previous year's filing.
Go to the TurboTax website: Open your web browser and navigate to TurboTax.com.
Sign In: Click on the "Sign In" button, usually located in the top right corner.
Enter Your Credentials: Input the email address and password you used for your TurboTax account last year. If you've forgotten them, look for the "Forgot password" or "Forgot user ID" links.
Access Your Prior Year Returns: Once logged in, look for a section like "Your Tax Returns & Documents," "Prior Year Returns," or something similar. TurboTax typically stores your past returns for several years.
Select the Relevant Year: Choose the tax year for which you need the AGI (e.g., 2023 for your 2024 filing).
View/Download Your Return: You should see an option to "View" or "Download" your tax return (usually as a PDF). Select this option.
Sub-heading 2.2: Locating AGI on Your Form 1040 (Prior Year)
Once you have your prior year's tax return open (either in TurboTax's interface or as a downloaded PDF), finding your AGI is straightforward.
For Tax Years 2020 through 2024: Your Adjusted Gross Income (AGI) is located on Line 11 of your Form 1040, 1040-SR, or 1040-NR.
For Tax Year 2019: Your AGI is on Line 8b of your Form 1040 or 1040-SR.
For Tax Year 2018: Your AGI is on Line 7 of your Form 1040.
For Tax Years Before 2018:
Form 1040A: Line 21
Form 1040EZ: Line 4
Carefully locate the specified line number on your printed or digital copy of the tax return. That number is your AGI! Remember to round the amount to the nearest dollar if there are cents.
Step 3: What If You Can't Access Your Previous TurboTax Account or Return?
Life happens! Maybe you switched tax software, lost your login, or simply didn't keep a copy. Don't panic; the IRS has you covered.
Sub-heading 3.1: Requesting an IRS Tax Transcript (The Most Reliable Method)
The IRS "Get Transcript" service is the official way to obtain your tax records, including your AGI. This is often the best option if you can't find your own copies.
Visit the IRS Website: Go to the official IRS website: IRS.gov.
Navigate to "Get Your Tax Record": On the homepage, look for a link or search bar for "Get Your Tax Record" or "Get Transcript."
Choose Your Method:
Get Transcript Online: This is the fastest way to get your transcript immediately. You'll need to verify your identity through their secure process (often using ID.me, which may require a photo ID and a smartphone).
Get Transcript by Mail: If you prefer, you can request a transcript be mailed to you. This typically takes 5 to 10 business days to arrive.
Select the Type of Transcript: Once you're in the transcript service, you'll want to request an "Account Transcript" or "Tax Return Transcript" for the relevant prior year. The "Account Transcript" usually shows your AGI.
Locate AGI on the Transcript: Once you receive your transcript (either online or by mail), look for the line labeled "ADJUSTED GROSS INCOME". This is the number you need.
Sub-heading 3.2: Contacting a Professional Tax Preparer
If you used a tax preparer (like an accountant or an H&R Block office) last year, they should have a copy of your return. Reach out to them and request a copy. They'll be able to provide you with your prior year's AGI.
Step 4: Entering Your AGI into TurboTax (for E-filing)
When you're ready to e-file your current year's return in TurboTax, it will prompt you for your prior year's AGI.
Navigate to the Filing Section: In TurboTax, continue through the interview process until you reach the "File" section.
Identity Verification Screen: You'll likely come across a screen that asks for your prior year's AGI or an Identity Protection (IP) PIN.
Input Your AGI: Carefully enter the AGI amount you found from your previous year's tax return (or transcript) into the designated field. Make sure to round to the nearest dollar.
TurboTax Tip: If you used the same TurboTax account last year, it often automatically pulls your AGI for you! Double-check to ensure it's correct.
What if you didn't file last year or were under 16? If you did not file a federal tax return last year, or if you were under 16 years of age and are filing for the first time, you should enter "0" (zero) for your prior year AGI. The system will accept this, and your return will be processed.
Continue Filing: Once you've entered the AGI, you can proceed with the e-filing process.
Step 5: Confirming Your Current Year's AGI in TurboTax
While the prior year's AGI is for verification, your current year's AGI is calculated as you go. TurboTax makes this very easy.
Navigate to Your Forms: As you progress through your return, TurboTax compiles all your information onto the various IRS forms.
View Your Form 1040: In TurboTax, you can often preview your entire tax return or specific forms. Look for an option to "View Forms" or "Print Center."
Locate Line 11 on Form 1040: For current tax years (2020-2024), your calculated AGI will be displayed on Line 11 of your Form 1040. This is your final AGI for the year you are currently filing.
And there you have it! Your AGI, whether for prior year verification or current year calculation, is now within your grasp.
10 Related FAQ Questions (How to...)
Here are some quick answers to common "How to" questions related to AGI and TurboTax:
How to calculate my AGI manually?
To calculate AGI manually, start with your total gross income (wages, interest, dividends, business income, etc.) and subtract "above-the-line" deductions like student loan interest, IRA contributions, or educator expenses. The result is your AGI.
How to find my AGI if I amended my tax return last year?
Always use the AGI from your original tax return you filed, not from any amended returns. The IRS verifies identity based on the initial filing.
How to get an IRS tax transcript if I don't have a computer?
You can request an IRS tax transcript by calling their automated phone transcript service at 1-800-908-9946. Allow 5 to 10 days for delivery by mail.
How to find my AGI if I used different tax software last year?
If you used different software, you'll need to log into that specific software to access your prior year's return, or request an IRS tax transcript.
How to resolve an AGI rejection when e-filing?
If your e-file is rejected due to an incorrect AGI, double-check the AGI from your prior year's original return or an IRS transcript. If you didn't file last year, enter "0". Then re-transmit your return.
How to find my AGI if I'm a first-time filer over 16?
If you are a first-time filer over the age of 16, you should enter "0" (zero) for your prior year's AGI when prompted during e-filing.
How to find my AGI if I filed a joint return last year?
For most Married Filing Jointly filers, both spouses will use the same prior year AGI from your joint return, even if only one person worked.
How to check my current year's AGI in TurboTax before I file?
In TurboTax, you can go to the "Tax Tools" section (often in the left-hand menu), then "Tools," and select "View Tax Summary" or "View Tax Return." You'll find your AGI on Line 11 of your Form 1040.
How to know if my AGI is too high for certain deductions or credits?
TurboTax automatically calculates your eligibility for deductions and credits based on your AGI. If you're using the software, it will inform you if you don't qualify due to income limitations. You can also refer to IRS publications for specific AGI thresholds.
How to protect my AGI from identity theft?
Keep your tax records secure and shred any documents you no longer need. Be cautious of phishing scams that ask for your AGI or other personal information. Consider enrolling in the IRS Identity Protection PIN (IP PIN) program for an extra layer of security.