Agi là gì

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Adjusted gross income (AGI) can directly impact the deductions and credits you are eligible for, which can wind up reducing the amount of taxable income you report on your tax return.Bạn đang xem: Agi là gì

AGI Overview

When preparing your tax return, you probably pay more attention to your taxable income than your adjusted gross income (AGI). However, your AGI is also worthy of your attention, since it can directly impact the deductions and credits you’re eligible for—which can wind up reducing the amount of taxable income you report on the return.

Bạn đang xem: Agi là gì


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AGI calculation

The AGI calculation is relatively straightforward.

Adjustments to income are specific deductions that directly reduce your total income to arrive at your AGI. The types of adjustments that you can deduct are subject to change each year, but a number of them consistently show up on tax returns year after year. Some of these adjustments include:

half of the self-employment taxes you payalimony payments made to a former spouse (for agreements prior to 2019)contributions to certain retirement accounts (such as a traditional IRA)

Impact on deductions and credits

Many of the deductions and credits that taxpayers commonly take advantage of each year are subject to AGI limitations. If you itemize deductions, for example, you must reduce your medical and dental expenses by 7.5% of your AGI for 2020 meaning that you can only deduct the amount that exceeds 7.5% of your AGI. Therefore, the lower your AGI is, the more of your medical and dental expenses you can deduct.

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Even some of your adjustments to income are subject to AGI limitations despite the fact that those deductions are necessary to calculate your AGI. If you’re eligible to deduct some of your tuition payments, your modified adjusted gross income (MAGI) determines whether you qualify.

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Other AGI implications

When you use ceds.edu.vn to prepare your taxes, we’ll ask you simple questions about your income and walk you step-by-step through the available adjustments to income and other deductions. We handle all the calculations for AGI and MAGI and determine exactly how this impacts your other deductions and credits.

All you need to know is yourself

Just answer simple questions about your life, and ceds.edu.vn Free Edition will take care of the rest. For Simple Tax Returns Only